CHAPTER 1. LIVESTOCK BREEDERS ASSOCIATIONS
IC 15-19
ARTICLE 19. LIVESTOCK
IC 15-19-1
Chapter 1. Livestock Breeders Associations
IC 15-19-1-1
Application of chapter
Sec. 1. Subject to section 4(b) of this chapter, this chapter applies
to a fair association described in section 2 of this chapter and
organized after March 5, 1889.
As added by P.L.2-2008, SEC.10.
IC 15-19-1-2
Incorporation of fair associations
Sec. 2. (a) A group of at least five (5) persons may form an
incorporated company for the purpose of forming a fair association
to improve the breeding and speed of stock and to promote
agriculture.
(b) To form a fair association described in subsection (a), a group
must adopt written articles of association that:
(1) specify the purpose of the fair association;
(2) specify the corporate name chosen for the fair association;
(3) list the name and residence of each member;
(4) contain an impression of the corporate seal; and
(5) establish the manner in which persons or officers are chosen
to manage the business concerns of the fair association.
As added by P.L.2-2008, SEC.10.
IC 15-19-1-3
Articles of association; filing; amendment
Sec. 3. Every fair association shall file its articles of association
in the recorder's office of the county where the association is formed.
The recorder shall record the articles of association in the
miscellaneous record. The record or a certified copy of the record is
conclusive evidence of the matters recited in the record. The articles
may be amended at any time by a majority vote of the members of
the association. The articles of association take effect on the date
they are recorded in the recorder's office.
As added by P.L.2-2008, SEC.10.
IC 15-19-1-4
Corporate powers; application to previously organized fair
associations
Sec. 4. (a) A fair association is a corporation from the date the
articles of incorporation are filed in the appropriate recorder's office.
The fair association has all the rights, powers, and privileges given
to a corporation under common law, including the right to:
(1) sue and be sued;
(2) borrow money and secure payment by notes, mortgages,
bonds, or deeds of trust upon its personal and real property; and
(3) rent, lease, purchase, hold, sell, and convey real estate and
personal property to the extent necessary and proper to erect
buildings and other proper purposes of the corporation.
(b) If:
(1) a fair association was organized in Indiana before March 6,
1889; and
(2) the fair association met the requirements of section 2 of this
chapter when it was organized;
subsection (a) applies to that association and to an association
described in section 1 of this chapter.
As added by P.L.2-2008, SEC.10.
IC 15-19-1-5
Bylaws
Sec. 5. A fair association may provide in its bylaws for the
admission and expulsion of members and for the election of officers
as may be necessary to accomplish the goals of the corporation. A
fair association may adopt bylaws for the governance of the officers
and members of the corporation.
As added by P.L.2-2008, SEC.10.