Ind. Code § 15-12-1-24
(c) An association may provide in the association's bylaws that a person is not eligible for election as a director unless the person has paid any indebtedness owed by the person to the association.
[Pre-2008 Recodification Citations: subsection (a) formerly 15-7-1-11(h); subsection (b) formerly 15-7-1-11(i); subsection (c) formerly 15-7-1-11(j).]
As added by P.L.2-2008, SEC.3.