Indiana Code 23-17-32-3. “Nonprofit organization”
Current as of: 2023 | Check for updates
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Sec. 3. As used in this chapter, “nonprofit organization” means one (1) of the following:
(2) A foreign corporation (as defined in IC 23-17-2-13).
(1) A domestic corporation (as defined in IC 23-17-2-11).
Terms Used In Indiana Code 23-17-32-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(3) An entity that is exempt from federal income tax under Section 501(c) of the Internal Revenue Code.
(4) An entity that has submitted an application with the Internal Revenue Service for recognition of an exemption under Section 501(c) of the Internal Revenue Code.
As added by P.L.221-2023, SEC.2.