Sec. 1. The Indiana grain indemnity corporation is established. The corporation is a public body corporate and politic, and though it is separate from the state, the exercise by the corporation of its powers constitutes an essential governmental function. The corporation may sue and be sued and plead and be impleaded. As added by P.L.250-1995, […]
As added by P.L.5-1996, SEC.18. Repealed by P.L.177-2011, SEC.5.
Sec. 2. (a) The corporation’s board is created. The governing powers of the corporation are vested in the board, which is composed of thirteen (13) members as described in subsections (b) and (c). (b) The board consists of the following ten (10) voting members: (1) Two (2) members appointed by the largest Indiana organization representing […]
Sec. 3. (a) A member of the board appointed under section 2(b) of this chapter: (1) serves for a four (4) year term; (2) is entitled to the same per diem and mileage allowances provided by law for state employees; and (3) may be reappointed. (b) A vacancy created by a member described in subsection […]
Sec. 4. (a) Except as provided in subsection (b), six (6) voting members constitute a quorum. The affirmative votes of at least six (6) voting members are necessary for any action to be taken by the board. (b) A meeting may be adjourned by less than six (6) members. As added by P.L.250-1995, SEC.1. Amended […]
Sec. 5. The board shall meet at least two (2) times each year. One (1) meeting of the board must be held in July. As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.23.
Sec. 6. (a) Except as provided in subsection (b), a member of the board must be given at least five (5) days written notice of the meetings. (b) A member of the board may waive any notice required by this section or bylaws of the corporation before or after the date and time stated in […]
Sec. 7. The board shall do the following: (1) Adopt rules, create forms, and establish guidelines to implement this article. (2) Collect and deposit all producer premiums authorized under IC 26-4-4-4 into the fund for investment by the board. (3) Require reports from the agency regarding the financial status of a licensee, while the board […]
Sec. 8. A member of the board or other person acting on behalf of the corporation is not personally liable for damage or injury resulting from the performance of the member’s or person’s duties under this article. As added by P.L.250-1995, SEC.1.
Sec. 8.5. If a board member reasonably believes that a conflict of interest exists with respect to the exercise of the board member’s official duties in a particular case, the board member: (1) shall disclose that a conflict of interest exists to the board and the agency; and (2) is recused from the proceeding. As […]
Sec. 8.7. (a) If a board member is found to have violated the terms of a confidentiality agreement entered into under this chapter, the board member forfeits the member’s appointment to the board and shall be removed as a member of the board. (b) If a board member is suspected of violating the terms of […]
Sec. 9. (a) The corporation may do or shall have any of the following: (1) Perpetual succession by its corporate name as a corporate body. (2) Adopt and make use of an official seal and alter the same at pleasure. (3) Adopt, amend, and repeal bylaws consistent with the provisions of this article for the […]
