Corporate status; authority to issue capital stock and hold real

estate Sec. 1. (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.