Indiana Code 26-4-3-1. Establishment as a public body corporate
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Terms Used In Indiana Code 26-4-3-1
- 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.
Sec. 1. The Indiana grain indemnity corporation is established. The corporation is a public body corporate and politic, and though it is separate from the state, the exercise by the corporation of its powers constitutes an essential governmental function. The corporation may sue and be sued and plead and be impleaded.
As added by P.L.250-1995, SEC.1.