Sec. 3. (a) Any university or college described in section 2 of this chapter desiring to amend its charter so as to remove the limitations upon the amount of property ownership as referred to in section 2 of this chapter and desiring to accept this chapter may do so by the adoption by its board of directors or board of trustees of a resolution to that effect and by filing proof of such adoption, verified by at least a majority of the board, in the office of the secretary of state.

     (b) The charter shall be deemed amended to remove such limitations as of the date when such proof is filed in the office of the secretary of state.

Formerly: Acts 1941, c.62, s.3. As amended by P.L.34-1987, SEC.360; P.L.1-1989, SEC.48.