CHAPTER 6. CORPORATE STATUS FOR COUNTY AND DISTRICT AGRICULTURAL SOCIETIES

IC 15-14-6

    

Chapter 6. Corporate Status for County and District Agricultural
Societies

IC 15-14-6-1

Corporate status; authority to issue capital stock and hold real
estate

    

Sec. 1. (a) A county or district agricultural society, an agricultural
and mechanical society, and a horticultural society must be a body
corporate with perpetual succession.

    (b) A society described in subsection (a) may:

        (1) issue capital stock not to exceed ten thousand dollars
($10,000), in shares not to exceed twenty-five dollars ($25)
each; and

        (2) hold real estate, by purchase, gift, or devise, not to exceed
eighty (80) acres.

As added by P.L.2-2008, SEC.5.

IC 15-14-6-2

Transferability of capital stock

    

Sec. 2. Shares in the capital stock of a society described in section
1 of this chapter are transferable for consideration from a person to
another person, subject to the bylaws that the society adopts.

As added by P.L.2-2008, SEC.5.

IC 15-14-6-3

Voting rights

    

Sec. 3. (a) In all meetings of stockholders of a society, described
in section 1 of this chapter, held for the:

        (1) election of:

            (A) trustees; or

            (B) directors; or

        (2) purpose of expressing the will of the stockholders by vote
on any question;

a stockholder is entitled to cast one (1) vote for each share the
stockholder owns and has fully paid for.

    (b) A stockholder is not entitled to vote on more than ten (10)
shares in a vote held under subsection (a).

As added by P.L.2-2008, SEC.5.