IC 8-1-17-2: Formation of corporation

Sec. 2. Any number of natural persons not less than eleven (11) may, by executing, filing, and recording articles of incorporation as provided in this chapter, form a cooperative corporation, not organized for pecuniary profit, for the purpose of:

(1) if the corporation is local in its scope, promoting and encouraging the fullest possible use of communications service in Indiana by making communications service and educational services incident to communications service available to inhabitants of rural areas of Indiana at the lowest cost consistent with sound economy and prudent management of the business of the cooperative corporation; or

(2) if the corporation is general in its scope, furnishing engineering, financial, accounting, and/or educational services, incident to communications service.