Indiana Code 16-23-3-3. Defrayment of deficiencies
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Terms Used In Indiana Code 16-23-3-3
- 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.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 3. If the city has provided assistance to the nonprofit corporation under section 2 of this chapter and the revenues derived from patient fees in any one (1) year and all other income of the association are not sufficient to maintain the hospital and grounds, the city may appropriate and pay to the nonprofit hospital corporation annually a sufficient amount to defray the deficiency.
[Pre-1993 Recodification Citation: 16-12.2-4-2.]
As added by P.L.2-1993, SEC.6.