Indiana Code 23-17-7-2. Consideration for admission
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Sec. 2. Except as provided in a corporation‘s articles of incorporation or bylaws, a corporation may admit members for either of the following:
(2) Consideration determined by the board of directors.
(1) No consideration.
Terms Used In Indiana Code 23-17-7-2
- 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.
As added by P.L.179-1991, SEC.1.