Indiana Code 8-1-17-12. General grant of powers to corporation
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Terms Used In Indiana Code 8-1-17-12
- 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. 12. Each cooperative corporation is vested with all powers necessary or requisite for the accomplishment of its corporate purpose and capable of being delegated by the general assembly of the state of Indiana; and no enumeration of particular powers granted by this chapter shall be construed to impair any general grant of power contained in this chapter, nor to limit any such grant to a power or powers of the same class or classes as those so enumerated.
Formerly: Acts 1951, c.193, s.12. As amended by P.L.49-2018, SEC.5; P.L.136-2018, SEC.75.