Indiana Statutes
§ 23-17-8-3 — Purchase of memberships or membership rights; public benefit or religious corporation; mutual benefit corporation
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 17 NONPROFIT CORPORATIONS·Ch. 8 Resignation and Termination of Members
(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.
Free access — add to your briefcase to read the full text and ask questions with AI
Indiana § 23-17-8-3 (Purchase of memberships or membership rights; public benefit or religious corporation; mutual benefit corporation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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"