Indiana Code 16-22-9-6. Use and purposes of condemnation; reversion upon failure to commence hospital construction
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Terms Used In Indiana Code 16-22-9-6
- 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.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 6. The condemnation and acquisition must be for the use and benefit of and at the expense of the nonprofit hospital corporation as set forth in section 9 of this chapter. If construction of hospital facilities is not commenced not more than three (3) years after the date of acquisition by condemnation, the title to the real property reverts to the person from which the property was acquired. The time for commencing construction is extended by delays caused by strikes, lockouts, fire, or causes beyond the control of the nonprofit hospital corporation.
[Pre-1993 Recodification Citation: 16-12-22-2 part.]
As added by P.L.2-1993, SEC.5.