Indiana § 13-11-2-142.3 "Nonprofit corporation"

Indiana Statutes

§ 13-11-2-142.3 — "Nonprofit corporation"

Indiana § 13-11-2-142.3

Art. 11DEFINITIONS

This text of Indiana § 13-11-2-142.3 ("Nonprofit corporation") is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 13-11-2-142.3 (2026).

Text

3. "Nonprofit corporation", for purposes of this chapter and IC 13-25-4-8, refers to a nonprofit corporation:

(1)that is exempt from income taxation under 26 U.S.C. 501;

(2)for which the primary purpose, as identified in the corporation's articles of incorporation, is to assist and support a political subdivision in a matter of public concern; and

(3)that has no member affiliated with any other person that is potentially liable for response costs at a facility through any of the following:

(A)A direct or an indirect familial relationship.

(B)A contractual, corporate, or financial relationship other than a contractual, corporate, or financial relationship that is created:

(i)by the instruments by which title to the facility is conveyed or financed; or

(ii)by a contract for the sale o

Free access — add to your briefcase to read the full text and ask questions with AI

3. "Nonprofit corporation", for purposes
of this chapter and IC 13-25-4-8, refers to a nonprofit corporation:
(1) that is exempt from income taxation under 26 U.S.C. 501;
(2) for which the primary purpose, as identified in the
corporation's articles of incorporation, is to assist and support a
political subdivision in a matter of public concern; and
(3) that has no member affiliated with any other person that is
potentially liable for response costs at a facility through any of the
following:
(A) A direct or an indirect familial relationship.
(B) A contractual, corporate, or financial relationship other than
a contractual, corporate, or financial relationship that is created:
(i) by the instruments by which title to the facility is conveyed
or financed; or
(ii) by a contract for the sale of goods or services.
(C) The result of a reorganization of a business entity that was
potentially liable for response costs at the facility.