Indiana Code 27-8-1-1. Authority to incorporate
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Terms Used In Indiana Code 27-8-1-1
- 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.
- United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
Sec. 1. Any number of persons not less than five (5) nor more than thirteen (13), citizens of the United States, one (1) or more of whom shall be bona fide citizens and voters of this state, may associate themselves together as a body corporate for the purpose of organizing a corporation, association, or society to transact the business of life insurance on the assessment plan, subject to the conditions and restrictions provided in this chapter.
Formerly: Acts 1883, c.136, s.1. As amended by P.L.136-2018, SEC.187.