Indiana Code 23-0.5-1.5-30. “Private organic rules”
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Sec. 30. “Private organic rules” means the rules, whether or not in a record, that govern the internal affairs of an entity, are binding on all its interest holders, and are not part of its public organic record, if any. The term includes:
(2) the bylaws of a nonprofit corporation;
(1) the bylaws of a business corporation;
Terms Used In Indiana Code 23-0.5-1.5-30
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(3) the partnership agreement of a general partnership;
(4) the partnership agreement of a limited partnership; and
(5) the operating agreement of a limited liability company.
As added by P.L.118-2017, SEC.5.