Sec. 36. If an association that is organized under or governed by this chapter with capital stock purchases: (1) the stock; (2) any property; or (3) any interest in any property; of any person, firm, corporation, or association, the association may discharge the obligations incurred in the purchase, wholly or in part, by exchanging for the acquired interest, shares of the association's capital stock to an amount that at par value would equal the fair market value of the stock or interest purchased, as determined by the board of directors. In that case, the transfer to the association of the stock or interest purchased must be equivalent to payment in cash for the shares of stock issued. [Pre-2008 Recodification Citation: 15-7-1-17.] As added by P.L.2-2008, SEC.3.
IC 15-12-1-37 Biennial report; contents; form; delivery Sec. 37. (a) During April of every other year, each association organized or reorganized under this chapter shall prepare and file a biennial report setting forth the following information: (1) The name of the association and the state or country under whose law the association is incorporated. (2) The address of the association's registered office and the name of the association's registered agent at that office in Indiana. (3) The address of the association's principal office. (4) The names and business or residence addresses of the association's directors, secretary, and highest executive officer. (b) The biennial report of each association must be: (1) made on a form prescribed and furnished by the secretary of state; (2) signed by any current officer of the association or, if the association is in the hands of a receiver or a trustee, by the receiver or trustee; (3) verified and affirmed subject to the penalties for perjury; and (4) filed in the office of the secretary of state, accompanied by the fees prescribed by law. (c) Information in the biennial report must be current as of the date the biennial report is executed on behalf of the association. (d) The first biennial report of the association must be delivered to the secretary of state in the second year following the calendar year in which the association was organized. Subsequent biennial reports must be delivered to the secretary of state every second year following the year in which the last biennial report was filed. [Pre-2008 Recodification Citations: subsection (a) formerly 15-7-1-18(a); subsection (b) formerly 15-7-1-18(b); subsection (c) formerly 15-7-1-18(c); subsection (d) formerly 15-7-1-18(d).] As added by P.L.2-2008, SEC.3.