Sec. 10. (a) The corporate purpose of each local cooperative corporation shall be to render communications service to its members and to such other persons in the specific instances as expressly provided in this chapter, and no person shall become or remain a member unless such person shall use communications service supplied by such cooperative corporation and shall have complied with the terms and conditions in respect to membership contained in the bylaws of such cooperative corporation.

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Terms Used In Indiana Code 8-1-17-10

  • communications: means construction, engineering, financial, accounting, or educational services incidental to communications service. See Indiana Code 8-1-17-3
  • Cooperative corporation: means a corporation formed under this chapter. See Indiana Code 8-1-17-3
  • 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.
  • Local cooperative corporation: means a cooperative corporation formed to render communications services within Indiana. See Indiana Code 8-1-17-3
  • Member: includes each individual signing the articles of incorporation of a cooperative corporation and each person admitted to membership of the cooperative corporation under law and the corporation's bylaws. See Indiana Code 8-1-17-3
     (b) A local cooperative corporation is one formed under this chapter for the purpose of furnishing communications service to its patrons.

Formerly: Acts 1951, c.193, s.10. As amended by P.L.59-1984, SEC.76; P.L.81-2020, SEC.9.

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