§ 8-1-17-2 — Formation of corporation

Any number of natural persons not less than
eleven (11) may, by executing, filing, and recording articles of
incorporation as provided in this chapter, form a cooperative
corporation, not organized for pecuniary profit, for the purpose of:
(1) if the corporation is local in its scope, promoting and
encouraging the fullest possible use of communications service in
Indiana by making communications service and educational
services incident to communications service available to
inhabitants of rural areas of Indiana at the lowest cost consistent
with sound economy and prudent management of the business of
the cooperative corporation; or
(2) if the corporation is general in its scope, furnishing
engineering, financial, accounting, and/or educational services,
incident to communications service.
Formerly: Acts 1951, c.193, s.2. As amended by P.L.136-2018,
SEC.73; P.L.81-2020, SEC.4.