Indiana Code 21-27-10-5. Member of a postsecondary SEI affiliated educational institution
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Sec. 5. A state educational institution may be a member of a postsecondary SEI affiliated educational institution if:
(2) the postsecondary SEI affiliated educational institution is controlled by the state educational institution;
(1) the postsecondary SEI affiliated educational institution is a public benefit corporation (as defined in IC 23-17-2-23);
Terms Used In Indiana Code 21-27-10-5
- 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.
- eligible property: means any property received by the board of trustees of a state educational institution, other than:
Indiana Code 21-27-10-4
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
(3) in the judgment of the board of trustees, it is in the best interest and consistent with the mission of the state educational institution; and
(4) any contributions or other financial support made to the postsecondary SEI affiliated educational institution by the state educational institution consist solely of eligible property.
As added by P.L.217-2017, SEC.148.