Indiana Code 15-12-1-51. Admitted foreign cooperative associations; rights and restrictions
Current as of: 2024 | Check for updates
|
Other versions
Sec. 51. Any nonprofit cooperative association organized under the agricultural cooperative law of another state and admitted to do business in Indiana:
(2) has the same rights, privileges, powers, and remedies at law or in equity possessed by an association incorporated under this chapter; and
(1) may transact business as set forth in the certificate of admission issued to the association by the secretary of state;
Terms Used In Indiana Code 15-12-1-51
- association: means any corporation organized under or governed by this chapter. See Indiana Code 15-12-1-4
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(3) is subject to the same liabilities, restrictions, duties, and penalties imposed on an association incorporated under this chapter.
[Pre-2008 Recodification Citation: 15-7-1-32.]
As added by P.L.2-2008, SEC.3.