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

Indiana Statutes

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

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

(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 s

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(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.

Indiana § 23-14-76-4 (Voluntary election of application of business corporation and nonprofit corporation law) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.