Indiana Code 36-7-23-54. Corporations permitted to lease infrastructures to authorities
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Terms Used In Indiana Code 36-7-23-54
- authority: refers to a multiple jurisdiction infrastructure authority established under this chapter. See Indiana Code 36-7-23-1
- 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.
- 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
Sec. 54. A nonprofit or for profit corporation organized under Indiana law or admitted to do business in Indiana may lease facilities referred to in section 53 of this chapter to an authority under this chapter.
As added by P.L.346-1989(ss), SEC.7. Amended by P.L.179-1991, SEC.33.