Indiana Statutes
§ 23-17-8-3 — Purchase of memberships or membership rights; public benefit or religious corporation; mutual benefit corporation
Indiana § 23-17-8-3
JurisdictionIndiana
Title 23BUSINESS AND OTHER ASSOCIATIONS
Art. 17NONPROFIT CORPORATIONS
Ch. 8Resignation and Termination of Members
This text of Indiana § 23-17-8-3 (Purchase of memberships or membership rights; public benefit or religious corporation; mutual benefit 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 § 23-17-8-3 (2026).
Text
(a)A public benefit or religious corporation
may not purchase any of the corporation's memberships or any right
arising from a membership.
(b)A mutual benefit corporation may purchase the membership of
a member who resigns or whose membership is terminated for the
amount and under the conditions set forth in or authorized by the
corporation's articles of incorporation or bylaws. A payment may not
be made in violation of IC 23-17-21.
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Legislative History
As added by P.L.179-1991, SEC.1.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"Cite This Page — Counsel Stack
Bluebook (online)
Indiana § 23-17-8-3, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/23-17-8-3.