Note: This version of section effective until 1-1-2025. See also following version of this section, effective 1-1-2025.

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Terms Used In Indiana Code 20-40-2-4

  • 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.
  • fund: refers to a school corporation's or, if applicable, a charter school's education fund established under section 2 of this chapter. See Indiana Code 20-40-2-1
     Sec. 4. Except as provided in IC 36-1-8-5.1 (school corporation rainy day fund), the education fund of the school corporation or, if applicable, a charter school, shall be used only to pay for expenses allocated to student instruction and learning under IC 20-42.5. The fund may not be used to pay directly any expenses that are not allocated to student instruction and learning under IC 20-42.5 or expenses permitted to be paid from the school corporation’s or charter school’s operations fund.

[Pre-2006 Recodification Citation: 21-2-11-4(a) part.]

As added by P.L.2-2006, SEC.163. Amended by P.L.145-2012, SEC.24; P.L.257-2013, SEC.36; P.L.244-2017, SEC.69; P.L.140-2018, SEC.12; P.L.201-2023, SEC.182.

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