Sec. 1. The general assembly recognizes that:

(1) Article 11, § 12 of the Constitution of the State of Indiana provides that the state may not become a stockholder in a corporation;

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 21-27-10-1

  • 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.
(2) online, onsite, and hybrid online/onsite instructional, educational, and training programs serve an important public interest by expanding access to learning opportunities, thereby enhancing the state’s ability to promote workforce and economic development; and

(3) a state educational institution may more effectively advance its educational mission and achieve its public or charitable purposes by being affiliated with a postsecondary degree granting and credit bearing institution that provides these alternative types of instructional, educational, or training offerings, whether onsite, online, or through any combination of these or other instructional modalities, to better reach adult learners and other nontraditional students.

The general assembly declares that a state educational institution’s controlling and being a member of a postsecondary SEI affiliated educational institution, as permitted in this section, complies with Article 11, § 12 of the Constitution of the State of Indiana.

As added by P.L.217-2017, SEC.148.

  Previous section
Next section  
 Chapter 10 Contents