Sec. 24. (a) Each director must during the director's term of office be a citizen of the United States. Each director, other than a public director, must be engaged in or have a direct interest in the production of agricultural products.
(b) An association may provide in the association's bylaws that a person is not eligible for election as a director unless the person is a member or patron of the association.
(c) An association may provide in the association's bylaws that a person is not eligible for election as a director unless the person has paid any indebtedness owed by the person to the association.
[Pre-2008 Recodification Citations: subsection (a) formerly 15-7-1-11(h); subsection (b) formerly 15-7-1-11(i); subsection (c) formerly 15-7-1-11(j).]
As added by P.L.2-2008, SEC.3.
Structure Indiana Code
Title 15. Agriculture and Animals
Article 12. Agricultural Assistance Organizations and Programs
Chapter 1. Agricultural Cooperatives
15-12-1-1. Purpose; Legislative Declaration
15-12-1-2. Application of Definitions in Ic 23-1
15-12-1-3. "Agricultural Products"
15-12-1-7. Associations Governed as Nonprofit Corporations
15-12-1-8. Eligibility to Form an Association
15-12-1-9. Authorized Activities
15-12-1-10. Association; Powers
15-12-1-11. Association; Membership; Issuance of Stock
15-12-1-12. Articles of Incorporation
15-12-1-13. Presentation of Articles of Incorporation
15-12-1-15. Bylaws; Adoption and Amendment; Scope
15-12-1-16. Association; Meetings; Special Meetings
15-12-1-17. Board of Directors; Management of Association
15-12-1-18. Board of Directors; Election; Terms
15-12-1-19. Board of Directors; Districts; Primary Elections
15-12-1-20. Board of Directors; Appointment
15-12-1-21. Board of Directors; Payment; Restrictions
15-12-1-22. Executive Committee; Powers
15-12-1-23. Board of Directors; Vacancies
15-12-1-24. Board of Directors; Eligibility
15-12-1-25. Board of Directors; Financial Report; Records
15-12-1-26. Extension of Credit
15-12-1-27. Election of Officers
15-12-1-28. Membership Certificates
15-12-1-29. Voting Stock; Votes; Transfer
15-12-1-30. Distribution of Dividends
15-12-1-31. Redemption of Stock
15-12-1-32. Issuance of Various Classes of Stock
15-12-1-33. Officers and Director; Charges; Removal
15-12-1-34. Marketing Contracts
15-12-1-35. Remedies for Breach of Contract
15-12-1-36. Purchase of Property or Stock in Another Entity
15-12-1-37. Biennial Report; Contents; Form; Delivery
15-12-1-38. Disclosure of Financial Condition; Offense
15-12-1-39. Application of Other Laws
15-12-1-40. Limitation on the Use of the Term "Cooperative"
15-12-1-41. Membership of Association in Other Corporations or Associations
15-12-1-42. Joint Activities With Other Associations
15-12-1-43. Vote by Existing Cooperatives for Governance Under Chapter
15-12-1-44. Breach of Marketing Contract; Penalty; Injunction
15-12-1-45. Warehouse or Elevator Operator; Breach of Marketing Contract; Penalty; Injunction
15-12-1-46. Exemption From Conspiracy and Monopoly Laws; Legality of Marketing Contracts
15-12-1-47. Application of Corporation Laws; Exceptions
15-12-1-48. Secretary of State; Fees
15-12-1-49. Foreign Cooperative Associations; Application for Admission
15-12-1-50. Foreign Cooperative Associations; Certificate of Admission
15-12-1-51. Admitted Foreign Cooperative Associations; Rights and Restrictions
15-12-1-52. Governance of Certificates of Stock and Membership