1710 State Nonprofit Statutes

by Josh S. Tatum in 501(c)(3), LMG Content, Podcast

[podcast src=”https://html5-player.libsyn.com/embed/episode/id/5147618/height/90/width/450/theme/custom/autonext/no/thumbnail/yes/autoplay/no/preload/no/no_addthis/no/direction/forward/render-playlist/no/custom-color/c30000/” height=”90″ width=”450″]It’s important to understand your state’s statute governing how not-for-profit organizations do business. Statutes have mandatory rules, default rules, and minimum standards. Not understanding these provisions can cause problems.

Find the text of the American Bar Association’s 2008 Model Nonprofit Corporation Act, Third Edition here: http://www.americanbar.org/content/dam/aba/events/real_property_trust_estate/joint_fall/2008/black_letter.authcheckdam.pdf

The complete history and comments of the 2008 model act can be purchased from the American Bar Association here: http://shop.americanbar.org/ebus/store/productdetails.aspx?productid=213949

Indiana’s Nonprofit Corporation Act is Ind. Code §§ 23-17-1-0.2 to -31-6 The 2016 version of the Act can be found here: https://iga.in.gov/documents/20c9cdb5

A notable difference between the Indiana act and the 2008 version of the model act is that the 2008 model act allows directors to bring a derivative action. See §§ 3.04, 13.01–13.09

 

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