Indiana Code 15-12-1-25. Board of directors; financial report; records
(1) the amount of indebtedness owed to the association by each director, officer, and employee at the close of the period; and
Terms Used In Indiana Code 15-12-1-25
- association: means any corporation organized under or governed by this chapter. See Indiana Code 15-12-1-4
- member: means the following:
Indiana Code 15-12-1-5
The board of directors shall take action with respect to any individual indebtedness to the association that is larger than permitted by the bylaws as is best for the association in the sound discretion of the board.
(b) The board of directors shall require a record of attendance to be kept and the secretary of the board to make a report at the annual meeting of members detailing the directors’ attendance up to and including the last directors’ meeting before the annual meeting, indicating:
(1) the number of regular and special meetings of the board; and
(2) the number of regular and of special meetings attended by each member of the board designated by name.
[Pre-2008 Recodification Citation: 15-7-1-11(k).]
As added by P.L.2-2008, SEC.3.