Terms Used In Indiana Code > Title 21 > Article 7 - State Universities

• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• department: refers to the Indiana department of administration established by IC 4-13-1-2. See Indiana Code 4-13-17-1
• fund: refers to the Indiana University permanent endowment fund in the custody of the treasurer of state. See Indiana Code 21-7-14-2
• fund: refers to the endowment fund for Purdue University described in section 2 of this chapter. See Indiana Code 21-7-15-1
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• prior law: refers to the statutes concerning higher education that are repealed or amended in the recodification act of the 2007 regular session of the general assembly as the statutes existed before the effective date of the applicable or corresponding provision of the recodification act of the 2007 regular session of the general assembly. See Indiana Code 21-7-12-1
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5