Indiana Code 5-1-17.5-23. Director’s interest in contracts or in sale or lease of property prohibited
Current as of: 2023 | Check for updates
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Sec. 23. (a) A director of the commission who knowingly has an interest:
For details, see Ind. Code § 35-50-3-2(2) in the sale or lease of any real or personal property to the commission;
(1) in any contract with the commission; or
Attorney's Note
Under the Indiana Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class A misdemeanor | up to 1 year | up to $5,000 |
Terms Used In Indiana Code 5-1-17.5-23
- authority: refers to the Indiana finance authority. See Indiana Code 5-1-17.5-4
- commission: refers to the Indiana motorsports commission created by this chapter. See Indiana Code 5-1-17.5-9
- Contract: A legal written agreement that becomes binding when signed.
- department: refers to the department of state revenue. See Indiana Code 5-1-17.5-10
- 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
- political subdivision: has the meaning set forth in IC 36-1-2-13. See Indiana Code 5-1-17.5-13
- Property: includes personal and real property. See Indiana Code 1-1-4-5
commits a Class A misdemeanor. All such contracts or leases are void.
(b) This section does not apply to contracts for purchases of property, real or personal, between the commission and:
(1) the authority;
(2) any political subdivision; or
(3) any department or agency of the state.
As added by P.L.233-2013, SEC.5.