“Association” means a group of individuals or business organizations which might have been created by a formal agreement, declaration of trust, or other legal arrangement, and which:

1. (a) Transacts business activity; and
2. (b) Perpetuates its period of existence notwithstanding that its members or participants change.

Source. #4192, eff 12-23-86; ss by #5490, eff 10-19-92; ss by #6853, eff 9-23-98; ss by #8709, eff 8-25-06; ss by #10758, eff 1-16-15; ss by #14231, eff 4-3-25, EXPIRES 4-3-35