Section 15-14-6-1 - Corporate status; authority to issue capital stock and hold real estate(a) A county or district agricultural society, an agricultural and mechanical society, and a horticultural society must be a body corporate with perpetual succession.(b) A society described in subsection (a) may:(1) issue capital stock not to exceed ten thousand dollars ($10,000), in shares not to exceed twenty-five dollars ($25) each; and(2) hold real estate, by purchase, gift, or devise, not to exceed eighty (80) acres.Pre-2008 Recodification Citation: 15-1-4-1.
As added by P.L. 2-2008, SEC.5.