Indiana Code 6-9-7-8. Transfer and use of funds restricted; offenses
Current as of: 2023 | Check for updates
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Sec. 8. (a) Any member of the commission who approves the transfer of funds to any person or corporation not qualified under this chapter for that transfer or who approves a transfer for a purpose not permitted under this chapter commits a Level 6 felony.
(b) Any person or officer or employee of a corporation who receives a transfer of funds under this chapter and who uses those funds for any purpose other than a proposal approved by the commission commits a Level 6 felony.
As added by Acts 1978, P.L.50, SEC.1. Amended by P.L.158-2013, SEC.110.
Attorney's Note
Under the Indiana Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Level 6 felony | between 6 mos. and 2 1/2 years | up to $10,000 |
Terms Used In Indiana Code 6-9-7-8
- 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.