Sec. 12. (a) Except as provided under section 15 of this chapter (before its expiration), a school
corporation that enters into a
contract under this chapter to be a
freeway school corporation or to operate a freeway school must maintain the educational benefits that the school corporation agrees to achieve in the
contract.
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Terms Used In Indiana Code 20-26-15-12
- Contract: A legal written agreement that becomes binding when signed.
- contract: refers to a contract entered into under this chapter for the establishment of:
Indiana Code 20-26-15-1
- 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.
- freeway school: refers to :
Indiana Code 20-26-15-2
- freeway school corporation: refers to a school corporation that enters into a contract under this chapter. See Indiana Code 20-26-15-3
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) the contract is void; and
(2) the school corporation ceases to be:
(A) a freeway school corporation; or
(B) eligible to operate a freeway school;
on July 1 following the second school year in which the freeway school corporation or freeway school failed to maintain the required educational benefits.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5-62-12.]
As added by P.L.1-2005, SEC.10. Amended by P.L.108-2018, SEC.5.
