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.

lawyer at desk

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 15-14-6-1

  • 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.
     (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.

[Pre-2008 Recodification Citation: 15-1-4-1.]

As added by P.L.2-2008, SEC.5.

  Previous section
Next section  
 Chapter 6 Contents