Indiana § 26-4-3-2 - Board of directors; establishment; powers and duties; members
Full text of Indiana Indiana Code § 26-4-3-2 — Board of directors; establishment; powers and duties; members, with citation guidance and answers to common questions.
§ 26-4-3-2. Board of directors; establishment; powers and duties; members
Sec. 2. (a) The corporation's board is created. The governing powers of the corporation are vested in the board, which is composed of thirteen (13) members as described in subsections (b) and (c).
(b) The board consists of the following ten (10) voting members:
(1) Two (2) members appointed by the largest Indiana organization representing the interests of grain and feed dealers in Indiana.
(2) Two (2) members appointed by the largest Indiana organization representing general farm interests in Indiana.
(3) One (1) member appointed by the second largest Indiana organization representing general farm interests in Indiana.
(4) One (1) member appointed by the largest Indiana organization exclusively representing the interests of corn producers.
(5) One (1) member appointed by the largest Indiana organization exclusively representing the interests of soybean producers in Indiana.
(6) Two (2) members appointed by the largest Indiana organization representing the interests of bankers in Indiana.
(7) One (1) member appointed by the largest Indiana organization representing the interests of the seed trade in Indiana.
The members appointed under subdivisions (2) through (5) must be producers.
(c) The board consists of the following three (3) nonvoting members:
(1) The attorney general.
(2) The treasurer of state.
(3) The director of the agency.
(d) The:
(1) attorney general may designate a licensed attorney representative; and
(2) treasurer of state may designate a representative;
to serve on the board.
(e) At an annual meeting of the board, to be held in July, the members of the board shall elect a chairperson and vice chairperson. The chairperson and vice chairperson must be voting members and serve for a one (1) year term. The chairperson and vice chairperson may be reelected for subsequent one (1) year terms for a maximum of two (2) years in an eight (8) year period.
(f) The chairperson shall lead the meetings of the board. When the chairperson is not available the vice chairperson shall lead the meetings of the board. If neither the chairperson nor vice chairperson is present, the chairperson may designate a voting member of the board to lead the meeting.
As added by P.L.250-1995, SEC.1. Amended by P.L.115-1999, SEC.3; P.L.5-2009, SEC.1; P.L.208-2021, SEC.10; P.L.114-2025, SEC.59.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 26-4-3-2
What does Indiana Code § 26-4-3-2 cover?
Section 26-4-3-2 ("Board of directors; establishment; powers and duties; members") 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 § 26-4-3-2?
A common citation format is "Indiana Code § 26-4-3-2" (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 § 26-4-3-2 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.