2015 Indiana Code TITLE 15. AGRICULTURE AND ANIMALS ARTICLE 14. AGRICULTURAL FAIRS, ASSOCIATIONS, AND SOCIETIES CHAPTER 6. CORPORATE STATUS FOR COUNTY AND DISTRICT AGRICULTURAL SOCIETIES
Download as PDF
IC 15-14-6
Chapter 6. Corporate Status for County and District
Agricultural Societies
IC 15-14-6-1
Corporate status; authority to issue capital stock and hold real
estate
Sec. 1. (a) A county or district agricultural society, an agricultural
and mechanical society, and a horticultural society must be a body
corporate with perpetual succession.
(b) A society described in subsection (a) may:
(1) issue capital stock not to exceed ten thousand dollars
($10,000), in shares not to exceed twenty-five dollars ($25)
each; and
(2) hold real estate, by purchase, gift, or devise, not to exceed
eighty (80) acres.
As added by P.L.2-2008, SEC.5.
IC 15-14-6-2
Transferability of capital stock
Sec. 2. Shares in the capital stock of a society described in section
1 of this chapter are transferable for consideration from a person to
another person, subject to the bylaws that the society adopts.
As added by P.L.2-2008, SEC.5.
IC 15-14-6-3
Voting rights
Sec. 3. (a) In all meetings of stockholders of a society, described
in section 1 of this chapter, held for the:
(1) election of:
(A) trustees; or
(B) directors; or
(2) purpose of expressing the will of the stockholders by vote on
any question;
a stockholder is entitled to cast one (1) vote for each share the
stockholder owns and has fully paid for.
(b) A stockholder is not entitled to vote on more than ten (10)
shares in a vote held under subsection (a).
As added by P.L.2-2008, SEC.5.
Indiana Code 2015
Disclaimer: These codes may not be the most recent version. Indiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
