§ 23-14-76-4 — Voluntary election of application of business corporation and nonprofit corporation law

Indiana § 23-14-76-4

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 14: CEMETERY ASSOCIATIONS
• Ch. 76: Application of Corporations Laws to Cemetery

Text

(a) Before January 1, 1998, a cemetery
association may elect to have the provisions of IC 23-1 or IC 23-17
apply permanently to the cemetery association, irrespective of whether
the cemetery association has issued shares of stock.
(b) A cemetery association electing to have IC 23-1 apply to the
cemetery association may:
(1) incorporate or reincorporate under IC 23-1; or
(2) if the cemetery association is a corporation, comply with the
following procedures:
(A) The board of directors or trustees must adopt a resolution
electing to have the provisions of IC 23-1 apply to the cemetery
association.
(B) The resolution must specify a date (before January 1, 1998)
after which the provisions of IC 23-1 will apply to the cemetery
association.
(C) The resolution must be filed with the secretary of state
before the date specified under clause (B).
(c) A cemetery association electing to have IC 23-17 apply to the
cemetery association may:
(1) incorporate or reincorporate under IC 23-17; or
(2) if the cemetery association is a corporation, accept the
provisions of IC 23-17 by taking the actions set forth in IC 23-17-1-1.

Legislative History

As added by P.L.52-1997, SEC.50.