Indiana Code 20-49-4-12. Condition of advance; capital projects operations fund
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Sec. 12. (a) For a school corporation or charter school to qualify for an advance under this chapter, a:
(2) charter school must establish an operations fund.
(1) school corporation must establish an operations fund under IC 20-40-18; and
Terms Used In Indiana Code 20-49-4-12
- advance: means an advance under this chapter from the fund. See Indiana Code 20-49-4-3
- charter school: refers to a school established under IC 20-24. See Indiana Code 20-49-4-3.5
- 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 common school fund in the custody of the treasurer of state. See Indiana Code 20-49-4-6
(b) The state board, after consulting with the department and the budget agency, may waive or modify the requirement under this section upon a showing of good cause by the school corporation or charter school.
[Pre-2006 Recodification Citation: 21-1-5-4(a).]
As added by P.L.2-2006, SEC.172. Amended by P.L.244-2017, SEC.120; P.L.189-2023, SEC.47.