Indiana § 15-19-1-4 Corporate powers; application to previously organized fair associations

Indiana Statutes

§ 15-19-1-4 — Corporate powers; application to previously organized fair associations

Indiana·Art. 19 LIVESTOCK·Ch. 1 Livestock Breeders Associations

(a)A fair association is a corporation from the date the articles of incorporation are filed in the appropriate recorder's office. The fair association has all the rights, powers, and privileges given to a corporation under common law, including the right to:

(1)sue and be sued;

(2)borrow money and secure payment by notes, mortgages, bonds, or deeds of trust upon its personal and real property; and

(3)rent, lease, purchase, hold, sell, and convey real estate and personal property to the extent necessary and proper to erect buildings and other proper purposes of the corporation.

(b)If:

(1)a fair association was organized in Indiana before March 6, 1889; and

(2)the fair association met the requirements of section 2 of this chapter when it was organized; subsection (a) applies to that

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(a) A fair association is a corporation from the
date the articles of incorporation are filed in the appropriate recorder's
office. The fair association has all the rights, powers, and privileges
given to a corporation under common law, including the right to:
(1) sue and be sued;
(2) borrow money and secure payment by notes, mortgages,
bonds, or deeds of trust upon its personal and real property; and
(3) rent, lease, purchase, hold, sell, and convey real estate and
personal property to the extent necessary and proper to erect
buildings and other proper purposes of the corporation.
(b) If:
(1) a fair association was organized in Indiana before March 6,
1889; and
(2) the fair association met the requirements of section 2 of this
chapter when it was organized;
subsection (a) applies to that association and to an association
described in section 1 of this chapter.
[Pre-2008 Recodification Citation: 15-5-3-3.]

Indiana § 15-19-1-4 (Corporate powers; application to previously organized fair associations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.