§ 27-11-4-2 — Organization of fraternal benefit society; articles of incorporation

Indiana § 27-11-4-2

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 11: FRATERNAL BENEFIT SOCIETIES
• Ch. 4: Organization

Text

Seven (7) or more citizens of the United States,
a majority of whom are citizens of this state, who desire to form a
fraternal benefit society, may make, sign, and acknowledge before
some officer competent to take acknowledgment of deeds and articles
of incorporation. The article of incorporation must state the following:
(1) The proposed corporate name of the society, which must not
resemble the name of any society or insurance company as to be
misleading or confusing.
(2) The purposes for which it is being formed and the mode in
which its corporate powers are to be exercised. Such purposes
may not include more liberal powers than are granted by this
article.
(3) The names and residences of the incorporators and the names,
residences, and official titles of all the officers, trustees, directors,
or other persons who are to have and exercise the general control
of the management of the affairs and funds of the society for the
first year or until the ensuing election at which all such officers
shall be elected by the supreme governing body, which election
shall be held not later than one (1) year from the date of issuance
of the permanent certificate of authority.

Legislative History

As added by P.L.262-1985, SEC.1.