Terms Used In Indiana Code > Title 5 > Article 20 > Chapter 3 - Mutual Housing Associations

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• families of low and moderate income: has the meaning set forth in IC 5-20-1-2. See Indiana Code 5-20-3-1
• housing project: means any work or undertaking to provide decent, safe, and sanitary urban or rural dwellings, apartments, or other living accommodations for families of low and moderate income, including:

  Indiana Code 5-20-3-2

• mutual housing association: refers to a corporation established under section 4 of this chapter. See Indiana Code 5-20-3-3
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5