Indiana Code 21-35-2-7. Authority to acquire real and personal property
Current as of: 2024 | Check for updates
|
Other versions
Sec. 7. The board of trustees of a state educational institution may acquire under this chapter or any other law, by:
(2) lease;
(1) purchase;
Terms Used In Indiana Code 21-35-2-7
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
- 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
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) condemnation;
(4) gift; or
(5) other means;
any property, real or personal, that in the judgment of the board of trustees is necessary for the state educational institution’s purposes.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-1 part.]
As added by P.L.2-2007, SEC.276.