Sec. 41. An association may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any corporation or corporations, or association or associations, with or without capital stock, that are engaged in:

(1) any activity in connection with the producing, marketing, selling, preserving, harvesting, drying, processing, manufacturing, canning, packing, grading, storing, transportation, handling, or use of any:

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Terms Used In Indiana Code 15-12-1-41

  • agricultural products: includes horticultural, viticultural, forestry, dairy, livestock, grain, poultry, bee, and any other farm product. See Indiana Code 15-12-1-3
  • association: means any corporation organized under or governed by this chapter. See Indiana Code 15-12-1-4
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • member: means the following:

    Indiana Code 15-12-1-5

(A) agricultural products; or

(B) byproducts of any agricultural products;

handled by the association or the association’s patrons;

(2) any activity in connection with the manufacturing, assembling, selling, supplying, purchasing, hiring, transportation, or use of supplies, machinery, or equipment that the association or the association’s patrons use; or

(3) the financing of any activities described in subdivision (1) or (2) or in performing or furnishing economic or educational service for persons engaged in agriculture.

[Pre-2008 Recodification Citation: 15-7-1-21.]

As added by P.L.2-2008, SEC.3.

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