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2021 Indiana Code
Title 15. Agriculture and Animals
Article 12. Agricultural Assistance Organizations and Programs
Chapter 1. Agricultural Cooperatives
15-12-1-21. Board of Directors; Payment; Restrictions
Universal Citation: IN Code § 15-12-1-21 (2021)
Sec. 21. (a) An association may provide a fair remuneration for:
(1) the time actually spent by the association's officers and directors in the association's service; and
(2) the service of the members of the association's executive committee and other committees.
(b) A director may not during the term of the director's office be a party to a contract for profit with the association differing in any way from the business relations accorded other members or patrons of the association.
[Pre-2008 Recodification Citation: 15-7-1-11(e).]
As added by P.L.2-2008, SEC.3.
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