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§ 23-17-2-10 — Indiana Law | CourtGPT
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  4. Title 23 - Business and Other Associations/
  5. Article 17 - Nonprofit Corporations/
  6. Chapter 2 - Definitions23-17-2-1. Application of Chapter/
  7. § 23-17-2-10
Indiana Legal Code

§ 23-17-2-10

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(b) The term includes a dividend and a purchase, redemption, or other acquisition of memberships.(c) The term does not include payment of reasonable value for property received or services performed or payment of reasonable benefits in furtherance of the corporation's purposes.As added by P.L.179-1991, SEC.1.