§ 23-6-4-9 — Purposes of corporations

Indiana § 23-6-4-9

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 6: PUBLIC CORPORATIONS AND ASSOCIATIONS
• Ch. 4: Indiana Business Development Credit Corporation Law

Text

The purposes for which a credit corporation may
exist must include the following:
(1) To assist, promote, encourage, and, through the cooperative
efforts of the institutions and corporations that from time to time
become members of the credit corporation, develop and advance
the business prosperity and economic welfare of Indiana.
(2) To encourage and assist in the location of new business and
industry in Indiana and to rehabilitate existing Indiana business
and industry.
(3) To stimulate and assist in the expansion of all kinds of
business activity, primarily through the making of loans and other
extensions of credit to small business concerns, for purposes of:
(A) promoting the business development and maintaining the
economic stability of Indiana;
(B) providing maximum opportunities for employment;
(C) encouraging thrift; and
(D) improving the standard of living of the citizens of Indiana.
(4) To cooperate with other organizations, public or private, the
objectives of which are the promotion and advancement of
industrial, commercial, agricultural, or recreational developments
in Indiana.
(5) To furnish money and credit to approved and deserving
applicants, primarily small business concerns, for the promotion,
development, and conduct of all kinds of business activity in
Indiana, and to thereby establish a source of credit not otherwise
readily available to those applicants.

Legislative History

As added by P.L.236-1985, SEC.1.