Sec. 15. (a) The board of directors of a public transportation corporation in a city consists of either five (5) or seven (7) directors, as determined by the city legislative body.

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Terms Used In Indiana Code 36-9-4-15

  • 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.
     (b) If the board of directors consists of five (5) directors, they are:

(1) two (2) directors appointed by the city executive, for terms of one (1) and two (2) years, respectively; and

(2) three (3) directors appointed by the city legislative body, for terms of two (2), three (3), and four (4) years, respectively.

     (c) If the board of directors consists of seven (7) directors, they are:

(1) three (3) directors appointed by the city executive, for terms of one (1), two (2), and three (3) years, respectively; and

(2) four (4) directors appointed by the city legislative body, for terms of one (1), two (2), three (3), and four (4) years, respectively.

[Pre-Local Government Recodification Citations: 19-5-2-11 part; 19-5-2-12 part.]

As added by Acts 1981, P.L.309, SEC.77. Amended by Acts 1981, P.L.317, SEC.3.

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