§ 23-13-9-1 — Board of directors; membership in church or religious denomination designated in resolution

Any university or college organized or existing
as a corporation under the provision of any special law, or special
charter, enacted or granted by the general assembly of this state, and
having a board of directors, and being a corporation having capital
stock, may, by a vote of a majority of its capital stock, at any
stockholders' meeting, whether regular or special, of the stockholders
of such corporation, by by-law or resolution enacted or adopted at such
meeting, provided that at least four-fifths (4/5) of the members of such
board of directors shall be members in good standing and full
fellowship of and in any church or religious denomination as may be
named or designated in such by-law or resolution, and in such by-law
or resolution provide that at any election of members of such board of
directors, there shall first be elected persons to the number of at least
four-fifths (4/5) of the total number of members comprising such board
in good standing and in full fellowship in such church or denomination:
Provided, That such by-law or resolution shall be enacted or adopted
by, on or before the first day of January, 1907: And provided, further,
That a certified copy of such by-law or resolution, under the hand of
the president of such university or college, or of its board of directors,
with the corporate seal of such university or college annexed, and
attested by the secretary of such university or college, be filed with the
secretary of state of the state of Indiana within three (3) months from
the date of the enacting or adoption of such by-law or resolution, and,
upon being thus filed, such by-law or resolution shall be taken and
deemed to be and as a part of the charter of such university or college.
Formerly: Acts 1905, c.83, s.1.