Indiana Code 5-28-41-4. “Qualified nonprofit organization”
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Terms Used In Indiana Code 5-28-41-4
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- regional economic acceleration and development strategy: refers to :
Indiana Code 5-28-41-6
Sec. 4. As used in this chapter, “qualified nonprofit organization” means a private, nonprofit entity formed as a partnership between local units (as defined in IC 4-4-32.2-9), private sector businesses, or community or philanthropic organizations to develop and implement a regional economic acceleration and development strategy that has an organizational structure that conforms with the requirements of a policy developed by the corporation under section 16 of this chapter.
As added by P.L.165-2021, SEC.64.