Incorporation of fair associations

Sec. 2. (a) A group of at least five (5) persons may form an incorporated company for the purpose of forming a fair association to improve the breeding and speed of stock and to promote agriculture. (b) To form a fair association described in subsection (a), a group must adopt written articles of association that: (1) specify the purpose of the fair association; (2) specify the corporate name chosen for the fair association; (3) list the name and residence of each member; (4) contain an impression of the corporate seal; and (5) establish the manner in which persons or officers are chosen to manage the business concerns of the fair association. [Pre-2008 Recodification Citation: 15-5-3-1.] As added by P.L.2-2008, SEC.10.