Indiana Code 8-1-17-2. Formation of corporation
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Sec. 2. Any number of natural persons not less than eleven (11) may, by executing, filing, and recording articles of incorporation as provided in this chapter, form a cooperative corporation, not organized for pecuniary profit, for the purpose of:
(2) if the corporation is general in its scope, furnishing engineering, financial, accounting, and/or educational services, incident to communications service.
(1) if the corporation is local in its scope, promoting and encouraging the fullest possible use of communications service in Indiana by making communications service and educational services incident to communications service available to inhabitants of rural areas of Indiana at the lowest cost consistent with sound economy and prudent management of the business of the cooperative corporation; or
Terms Used In Indiana Code 8-1-17-2
- communications: means construction, engineering, financial, accounting, or educational services incidental to communications service. See Indiana Code 8-1-17-3
- Cooperative corporation: means a corporation formed under this chapter. See Indiana Code 8-1-17-3
- 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.
Formerly: Acts 1951, c.193, s.2. As amended by P.L.136-2018, SEC.73; P.L.81-2020, SEC.4.