Indiana Code 8-1-17.5-15. Requirements for membership

Sec. 15. A person may not become or remain a member of a surviving corporation or successor corporation formed under this chapter unless the person:

(1) uses energy, communications, or other services supplied by the surviving corporation or successor corporation; and

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.
successor corporation: means a corporation that is formed from a consolidation of two (2) or more corporations under this chapter. See Indiana Code 8-1-17.5-5
surviving corporation: means the corporation that remains after a merger of two (2) or more corporations under this chapter. See Indiana Code 8-1-17.5-6

(2) complies with the terms and conditions:

(A) concerning membership; and

(B) set forth in the bylaws or articles of incorporation of the surviving corporation or successor corporation.

As added by P.L.18-2010, SEC.1. Amended by P.L.49-2018, SEC.10.