Indiana Code 6-1.1-10-8. Nonprofit sewage disposal company
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Terms Used In Indiana Code 6-1.1-10-8
- 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.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 8. Property is exempt from property taxation if it is owned by a non-profit corporation which is engaged in a sewage disposal service within a rural area of this state. However, this exemption only applies if the corporation is operated on a not-for-profit basis.
[Pre-1975 Property Tax Recodification Citation: 6-1-1-2(24).]
Formerly: Acts 1975, P.L.47, SEC.1.