Indiana § 15-12-1-36 - Purchase of property or stock in another entity
Full text of Indiana Indiana Code § 15-12-1-36 — Purchase of property or stock in another entity, with citation guidance and answers to common questions.
§ 15-12-1-36. Purchase of property or stock in another entity
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.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 15-12-1-36
What does Indiana Code § 15-12-1-36 cover?
Section 15-12-1-36 ("Purchase of property or stock in another entity") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 15-12-1-36?
A common citation format is "Indiana Code § 15-12-1-36" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 15-12-1-36 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.