Terms Used In Indiana Code 20-47-4-1

• 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.
• improved school building: means an existing school building as improved, renovated, remodeled, or expanded by a lessor corporation. See Indiana Code 20-47-4-3
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• school building: has the meaning set forth in IC 20-47-2-4 or IC 20-47-3-2. See Indiana Code 20-47-4-4