Sec. 5. (a) Consistent with IC 20-23-4-26, the Muncie Community school corporation retains all of the characteristics of a community school corporation.

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Terms Used In Indiana Code 20-23-18-5

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
     (b) The governing body of the Muncie Community school corporation has all the powers, rights, duties, and obligations of a community school corporation.

     (c) For the purposes of annual budgeting, IC 6-1.1-17-20 does not apply to the governing body. The governing body is considered a governing body with the majority of members elected for the purposes of annual budgeting.

As added by P.L.213-2018(ss), SEC.22.

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