Indiana Code 14-13-1-41. White River state park foundation
(b) A subsidiary corporation established under this section:
Terms Used In Indiana Code 14-13-1-41
- commission: refers to the Indiana White River state park development commission. See Indiana Code 14-13-1-1
- 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.
- fund: refers to the White River park development fund created by this chapter. See Indiana Code 14-13-1-2
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) shall report to the budget committee each year concerning:
(A) the use of money received under subsection (a); and
(B) the balances in any accounts or funds established by the subsidiary corporation; and
(3) may deposit money received under subsection (a) in an account or fund that is:
(A) administered by the subsidiary corporation; and
(B) not part of the state treasury.
(c) A subsidiary corporation established under this section shall be governed by a board of directors comprised of:
(1) the members of the commission appointed under section 6 of this chapter; and
(2) any other directors that the members of the commission appoint.
(d) Employees of the commission shall provide administrative support for a subsidiary corporation established under this section.
(e) The state board of accounts shall audit a subsidiary corporation established under this section.
As added by P.L.51-2012, SEC.1. Amended by P.L.13-2013, SEC.49; P.L.181-2015, SEC.35.