23-17-7-2. Consideration for admission

IN Code § 23-17-7-2 (2019) (N/A)
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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.