Rights and Duties; Membership Classes

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

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Sec. 4. Members shall have the same rights and obligations with respect to:

(1) voting;

(2) dissolution;

(3) redemption; and

(4) transfer;

unless articles of incorporation or bylaws establish classes of membership with different rights or obligations. Members have the same rights and obligations with respect to any other matters, except as set forth in or authorized by articles of incorporation or bylaws.

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


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