Sec. 1. (a) Wabash College is a body corporate and politic that has perpetual succession.

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Terms Used In Indiana Code 23-13-19-1

  • Bequest: Property gifted by will.
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
     (b) The board of trustees of Wabash College shall have power to appoint a faculty in said college consisting of a president, professors, and tutors, as the necessities of the institution may demand. The faculty so appointed, by and with the approbation of the board of trustees, shall have power to grant and confer such degrees in the liberal arts and sciences as are usually granted and conferred in other colleges in the United States. However, no degrees shall be conferred, or diplomas granted, except to students who have acquired the same proficiency in the liberal arts and sciences as is customary in other colleges in the United States.

     (c) The board of trustees shall also have power to:

(1) contract, and be contracted with;

(2) acquire, hold, enjoy, and transfer property, real or personal, in their corporate capacity;

(3) have and use a common seal, and alter the same at pleasure;

(4) sue and be sued, plead and be impleaded, in any court of law or equity;

(5) receive and accept any grant, gift, donation, bequest or conveyance, by any person, company, or corporation of any property, real or personal: and hold and enjoy and dispose of the same as may be deemed best for the interests of said college;

(6) make, ordain, establish, and execute such bylaws, rules, and ordinances, not inconsistent with the Constitution and laws of the United States, or of this state, as they shall deem necessary for the welfare of said institution; and

(7) do all other acts in pursuance thereof necessary for the prosperity of said college.

Formerly: Acts 1834, c.18, s.1. As added by Acts 1982, P.L.146, SEC.3.

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