Indiana Code 21-35-3-8. Authority to acquire personal and real property

Sec. 8. A state educational institution may acquire by:

(1) purchase;

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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

(2) lease;

(3) condemnation;

(4) gift; or

(5) other means;

any property, real or personal, that in the judgment of the state educational institution is necessary for a support facility or a research facility.

[Pre-2007 Higher Education Recodification Citation: 20-12-8-1(c) part.]

As added by P.L.2-2007, SEC.276.