Terms Used In Indiana Code 23-10-2-16

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
   Sec. 16. The officers of any society, by whatever name such officers may be designated, elected in the manner prescribed by this chapter, or according to the rules of any such church, society, or order, may, whenever the laws or usages of the same require it, perform the duties of trustees, and, in their proper name and title, shall possess all the powers and be subject to the same liabilities as trustees; and the certificate of the election of such officers shall be recorded in the recorder’s office of the proper county as in the case of trustees.

Formerly: Acts 1852, 1RS, c.101, s.16. As amended by P.L.34-1987, SEC.340.