Indiana Code 32-25-8.5-17. Powers of board
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Sec. 17. The board, on behalf of the association of co-owners, and without the consent of the co-owners, may do any of the following:
(2) Execute settlement agreements, waivers, releases of claims, or any other document resulting from application of this chapter.
(1) Negotiate settlements of claims or legal proceedings under this chapter.
Terms Used In Indiana Code 32-25-8.5-17
- board: refers to the board of directors of an association of co-owners of a condominium. See Indiana Code 32-25-8.5-2
- legal proceedings: refers to either of the following:
Indiana Code 32-25-8.5-6
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
As added by P.L.141-2015, SEC.5.