Sec. 9. (a) The persons establishing an association under section 8 of this chapter must sign and acknowledge written articles of association specifying the following:

(1) The name of the association.

(2) The purposes of the association, which must be limited to the purposes of this chapter.

(3) The names and addresses of the initial members.

(4) The principal office of the association.

(5) The name of the agent for purposes of communications and service of process.

(6) The term of existence of the association, which may be perpetual.

(7) The number of directors, which may not be less than three (3) or more than eleven (11).

(8) The amount of any membership fee and any annual dues.

(9) The area affected by any proposed improvements included within the purposes of the association.

(10) The square footage of the area affected by the proposed improvement.

(11) The square footage of the area affected by the proposed improvement included within the association.

(12) Any other provisions that the initial members consider desirable and that are not inconsistent with this chapter.

     (b) The association shall file a copy of the articles of association, signed and acknowledged by all of the initial members, with the works board of the municipality in which the affected area is located. A copy of the articles of association shall be recorded in the office of the recorder of the county within which the area is located.

     (c) An association formed under this chapter (or under IC 36-9-20 before its repeal in 1993) is a nonprofit corporate body and may do the following:

(1) Enter into contracts.

(2) Hold, convey, and transfer property.

(3) Sue and be sued.

As added by P.L.98-1993, SEC.9.