Indiana Code 7.1-3-20-1. Clubs; general requirements
(a) It shall have been organized in good faith under authority of law;
Terms Used In Indiana Code 7.1-3-20-1
- 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.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(c) It shall have maintained, in good faith, a membership roll for the three (3) year period;
(d) It shall have a paid-up membership of more than fifty (50) members at the time the application is filed;
(e) It shall be the owner, lessee, or occupant of an establishment operated solely for objects of a national, social, patriotic, political, or athletic nature, or the like;
(f) It shall not be operated for pecuniary gain;
(g) The property and the advantages of the organization shall belong to its members; and,
(h) It shall maintain an establishment provided with special space and accomodations where, in consideration of payment, food, with or without lodging, is habitually served.
[Pre-1973 Recodification Citation: 7-1-1-3(c).]
Formerly: Acts 1973, P.L.55, SEC.1.