Indiana Code 9-21-18-6. Contract period; restrictions on length
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Terms Used In Indiana Code 9-21-18-6
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- unit: means a county, city, or town. See Indiana Code 9-21-18-3
Sec. 6. A contract entered into between a unit and a shopping center or private business property owner under this chapter may not exceed twenty (20) years. A lessee of a shopping center or private business property may not enter into a contract under this chapter for a longer period of time than the length of the lease.
[Pre-1991 Recodification Citation: 9-4-14-1(c).]
As added by P.L.2-1991, SEC.9.