§ 34-6-2-58 Homeowners association

Codes > Indiana Code > Title 34 > Article 6 : Chapter 2 > 34-6-2-58 Homeowners

34-6-2-58 “Homeowners association”

    Sec. 58. “Homeowners association”, for purposes of section 127 of this chapter, means a corporation or other entity that:

    (1) is organized and operated exclusively for the benefit of two (2) or more persons who each own a dwelling in fee simple; and

    (2) acts, in accordance with the articles, bylaws, and other documents governing the entity, to:

        (A) acquire, transfer, manage, repair, maintain, or engage in construction on or in the land and improvements on the land related to the use of the dwellings owned by the members of the corporation;

        (B) purchase insurance to cover a casualty or an activity on or in the land and improvements on the land;

        (C) engage in an activity incidental to an activity described in clause (A) or (B); or

        (D) engage in more than one (1) of the activities described in clauses (A) through (C).