Indiana Nonprofit Corporation Act of 1991

The Indiana Nonprofit Corporation Act of 1991 lays out the authorized activities of nonprofit corporations in the state. The act outlines requirements for articles of incorporation and the structure and activities of nonprofit corporations, among other things.

Articles of Incorporation

The act requires that a nonprofit corporation develop articles of incorporation, which state the organization's purpose. For example, the organization may be created to benefit the public or for religious purposes. The nonprofit corporation's existence begins once the Indiana secretary of state files the articles of incorporation.

Board of Directors

The organization must name a board of directors made of at least three individuals who manage the business and affairs of the nonprofit group. The organization may specify qualifications for its directors, who must follow a code of professional conduct. Directors generally serve a term of up to five years.

Meetings and Other Activities

The act establishes that nonprofit corporations may hold regular meetings at a fixed time and place or special meetings. Unless the articles of incorporation indicate otherwise, the organization may hold regular meetings of the board of directors without notifying the public. The act also outlines provisions for nonprofit corporations to conduct mergers, sell assets and file records and reports.

References

• Indiana General Assembly: Table of Contents Indiana Code