Indiana Code > Title 8 > Article 4.5 > Chapter 6 – Local Participation in Establishment of Recreational Trails
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Terms Used In Indiana Code > Title 8 > Article 4.5 > Chapter 6 - Local Participation in Establishment of Recreational Trails
- 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.
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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.
- Property: includes personal and real property. See Indiana Code 1-1-4-5