Sec. 10. (a) Except as provided in subsection (b), the board shall maintain separate reserve accounts within the 1996 account for each school corporation.

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Terms Used In Indiana Code 5-10.4-7-10

  • 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 sets a group employer rate under IC 5-10.2-2-11(b), the board shall maintain separate reserve accounts within the 1996 account for each employer group.

     (c) Credits and charges to these accounts must be made as prescribed in IC 5-10.2-2.

[Pre-2006 Education Finance Recodification Citation: 21-6.1-7-11.]

As added by P.L.2-2006, SEC.28. Amended by P.L.115-2009, SEC.20.

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