Indiana Code 15-12-1-7. Associations governed as nonprofit corporations
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Terms Used In Indiana Code 15-12-1-7
- association: means any corporation organized under or governed by this chapter. See Indiana Code 15-12-1-4
- 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.
Sec. 7. An association organized under or governed by this chapter is a nonprofit corporation within the meaning of this chapter and for purposes of interpreting Indiana law concerning associations organized under or governed by this chapter.
[Pre-2008 Recodification Citation: 15-7-1-2(e).]
As added by P.L.2-2008, SEC.3.