Indiana Code 36-9-4-33. Board of directors; power to contract
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Sec. 33. The board of directors of a public transportation corporation may contract with any person upon the terms and conditions the board considers best for the corporation including the following:
(2) Engaging in commissions or entering into agreements for the mutual insurance or sharing of risks for liability or property damage.
(1) Contracting for self-insurance protection of its property or liability under IC 34-13-3.
Terms Used In Indiana Code 36-9-4-33
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) Agreeing to join with other municipal corporations for the mutual risk sharing of losses due to casualty or acts of God.
[Pre-Local Government Recodification Citation: 19-5-2-22 part.]
As added by Acts 1981, P.L.309, SEC.77. Amended by P.L.353-1987, SEC.1; P.L.1-1998, SEC.214.