Indiana Code 36-7-38-1. Definitions

Sec. 1. The following definitions apply throughout this chapter:

(1) “Distressed real property” includes real property in a neglected or unmarketable condition.

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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.
Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

(2) “Eligible unit” means:

(A) a county;

(B) a consolidated city;

(D) a third class city;

to which IC 36-7-9 applies.

(3) “Land bank” means an entity established under section 2 of this chapter.

(4) “Person” means an individual, a corporation, a limited liability company, a partnership, or other legal entity.

As added by P.L.211-2016, SEC.1. Amended by P.L.110-2017, SEC.4; P.L.26-2020, SEC.4.