Consideration for Admission

  1. Law
  2. Indiana Code
  3. Business and Other Associations
  4. Nonprofit Corporations
  5. Members; Admission; Types of Memberships; Rights and Duties
  6. Consideration for Admission

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Sec. 2. Except as provided in a corporation's articles of incorporation or bylaws, a corporation may admit members for either of the following:

(1) No consideration.

(2) Consideration determined by the board of directors.

As added by P.L.179-1991, SEC.1.


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