§ 10-18-7-3 — Officers; treasurer's bond; election of officers; corporation's books

Indiana § 10-18-7-3

• Jurisdiction: Indiana
• Title 10: PUBLIC SAFETY
• Art. 18: WAR MEMORIALS
• Ch. 7: Memorial Corporations

Text

(a) The officers of a memorial corporation must
include the following:
(1) President.
(2) Vice president.
(3) Secretary.
(4) Treasurer.
(5) Three (3) trustees.
(b) All officers serve without pay except the secretary, whose
compensation shall be fixed by a majority of the trustees.
(c) The offices of secretary and treasurer may be held by the same
person.
(d) The term of each officer is for one (1) year and until the officer's
successor is elected and qualified.
(e) The treasurer shall give bond in a sum double the amount of all
money and securities that may come into the possession of the
treasurer. The amount of the bond must be approved by the trustees.
(f) Each officer must be elected by a majority vote cast by the
owners of the stock. A vote may not be cast by proxy or by an agent of
the owner. Elections shall be held at 2 p.m. on the first Tuesday of
April of each year at the office of the secretary. However, an election
may be held at another convenient place if the election is designated in
a notice signed by not less than two (2) trustees and published at least
one (1) week before the election in the weekly newspaper printed and
published nearest to the place of the election.
(g) A special election may be held for all vacant offices if a notice
is signed by all the trustees and the notice is published at least one (1)
week before the election in a weekly newspaper printed and published
nearest to the place of the election. The notice must specify the time
and place of the election and all the officer vacancies that can be filled.
(h) The books of the memorial corporation shall be kept at the office
of the secretary.
[Pre-2003 Recodification Citation: 10-7-12-3.]

Legislative History

As added by P.L.2-2003, SEC.9.