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Indiana Code Title 32. Property § 32-26-1-10

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 10. (a) The board of directors shall appoint a president, secretary, and treasurer.

(b) The treasurer shall give a bond:

(1) sufficient in penalties and securities;

(2) payable to the association by its corporate name;  and

(3) conditioned for:

(A) the faithful discharge of the treasurer's duties;  and

(B) the safekeeping and prompt payment, according to the order of the board of directors, of all money accessible to the treasurer.

(c) A majority of the board of directors is a quorum for the transaction of business.

(d) Previous notice of any regular or adjourned meeting of the directors is not necessary.

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Cite this article: FindLaw.com - Indiana Code Title 32. Property § 32-26-1-10 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-32-property/in-code-sect-32-26-1-10/

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