Sec. 3. (a) The articles of association must be filed with the secretary of state, and a copy must be filed with the county recorder of the county where the veterans association’s principal place of business is located.
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Terms Used In Indiana Code 10-18-6-3
- Bequest: Property gifted by will.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(1) To sue and be sued in the veterans association’s corporate name.
(2) To acquire property, real and personal, by gift, devise, bequest, and purchase.
(3) To use, lease, or dispose of personal or real property that furthers the purposes of the association.
(4) To borrow money and to issue notes, bonds, or other usual forms of securities.
(5) To secure the payment of the veterans association’s obligations by mortgages or deeds of trust upon the veterans association’s real or personal property.
[Pre-2003 Recodification Citation: 10-7-11-3.]
As added by P.L.2-2003, SEC.9.
