§ 26-4-3-2 — Board of directors; establishment; powers and duties; members

Indiana § 26-4-3-2

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 4: GRAIN INDEMNITY PROGRAM
• Ch. 3: Indiana Grain Indemnity Corporation

Text

(a) The corporation's board is created. The
governing powers of the corporation are vested in the board, which is
composed of thirteen (13) members as described in subsections (b) and
(c).
(b) The board consists of the following ten (10) voting members:
(1) Two (2) members appointed by the largest Indiana
organization representing the interests of grain and feed dealers
in Indiana.
(2) Two (2) members appointed by the largest Indiana
organization representing general farm interests in Indiana.
(3) One (1) member appointed by the second largest Indiana
organization representing general farm interests in Indiana.
(4) One (1) member appointed by the largest Indiana organization
exclusively representing the interests of corn producers.
(5) One (1) member appointed by the largest Indiana organization
exclusively representing the interests of soybean producers in
Indiana.
(6) Two (2) members appointed by the largest Indiana
organization representing the interests of bankers in Indiana.
(7) One (1) member appointed by the largest Indiana organization
representing the interests of the seed trade in Indiana.
The members appointed under subdivisions (2) through (5) must be
producers.
(c) The board consists of the following three (3) nonvoting
members:
(1) The attorney general.
(2) The treasurer of state.
(3) The director of the agency.
(d) The:
(1) attorney general may designate a licensed attorney
representative; and
(2) treasurer of state may designate a representative;
to serve on the board.
(e) At an annual meeting of the board, to be held in July, the
members of the board shall elect a chairperson and vice chairperson.
The chairperson and vice chairperson must be voting members and
serve for a one (1) year term. The chairperson and vice chairperson
may be reelected for subsequent one (1) year terms for a maximum of
two (2) years in an eight (8) year period.
(f) The chairperson shall lead the meetings of the board. When the
chairperson is not available the vice chairperson shall lead the meetings
of the board. If neither the chairperson nor vice chairperson is present,
the chairperson may designate a voting member of the board to lead the
meeting.

Legislative History

As added by P.L.250-1995, SEC.1. Amended by P.L.115-1999, SEC.3; P.L.5-2009, SEC.1; P.L.208-2021, SEC.10; P.L.114-2025, SEC.59.