Indiana Code 20-49-3-9. State board; powers; applications
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Terms Used In Indiana Code 20-49-3-9
- 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.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Sec. 9. The state board shall consider and accept or reject, in its discretion, applications of school building corporations created under IC 21-5-11 (before its repeal) or IC 20-47-2 for the purchase of first mortgage bonds issued by the corporation under IC 21-5-11 (before its repeal) or IC 20-47-2.
[Pre-2006 Recodification Citation: 21-1-4-4.]
As added by P.L.2-2006, SEC.172.