Indiana Code 20-26-5-14. Liberal construction
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Terms Used In Indiana Code 20-26-5-14
- 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.
Sec. 14. IC 20-26-1 through IC 20-26-5, IC 20-26-7, IC 20-40-12, and IC 20-48-1 shall be liberally construed to permit the governing body of a school corporation to conduct its affairs in a manner consistent with sound business practice to the ends that the authority of the governing body is clarified and that it is permitted to operate with the maximum efficiency consistent with accountability.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5-6-3.]
As added by P.L.1-2005, SEC.10. Amended by P.L.2-2006, SEC.120.