Indiana Code 15-12-1-42. Joint activities with other associations
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Sec. 42. (a) An association may, upon resolution adopted by the association’s board of directors:
(2) make all necessary and proper stipulations, agreements, and contracts and arrangements with any other cooperative corporation, association, or associations formed in Indiana or in any other state;
(1) enter into all necessary and proper contracts and agreements; and
Terms Used In Indiana Code 15-12-1-42
- 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.
for the cooperative and more economical performance of all or any part of the association’s business.
(b) Any two (2) or more associations may, by agreement between them:
(1) unite in employing and using; or
(2) separately employ and use;
the same personnel, methods, means, and agencies for carrying on and conducting the associations’ respective businesses.
[Pre-2008 Recodification Citation: 15-7-1-22.]
As added by P.L.2-2008, SEC.3.