Indiana § 23-15-12-2 - "Cooperative entity"
Full text of Indiana Indiana Code § 23-15-12-2 — "Cooperative entity", with citation guidance and answers to common questions.
§ 23-15-12-2. "Cooperative entity"
Sec. 2. As used in this chapter, "cooperative entity" means a business entity subject to this chapter that is:
(1) a cooperatively owned entity organized under the laws of another state or federal law; or
(2) a business entity:
(A) in which the members are buyers of goods or services from, or sellers of goods or services to, the entity;
(B) that is characterized as being democratically governed;
(C) that distributes profits or surpluses on the basis of use rather than on the basis of capital contributions or ownership; and
(D) that pays a limited return of less than eight percent (8%) on preferred equity.
As added by P.L.97-2017, SEC.3.
Frequently Asked Questions About Indiana § 23-15-12-2
What does Indiana Code § 23-15-12-2 cover?
Section 23-15-12-2 (""Cooperative 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 § 23-15-12-2?
A common citation format is "Indiana Code § 23-15-12-2" (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 § 23-15-12-2 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.