Indiana § 20-47-3-4 Qualifications of lessor corporation

Indiana Statutes

§ 20-47-3-4 — Qualifications of lessor corporation

Indiana § 20-47-3-4

Title 20EDUCATION

Art. 47RELATED ENTITIES; HOLDING COMPANIES;

Ch. 3Private Holding Companies

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Bluebook

Ind. Code § 20-47-3-4 (2026).

Text

A school corporation or corporations may enter into a lease or lease with option to purchase under this chapter only with:

(1)a corporation organized under Indiana law or admitted to do business in Indiana; or

(2)a religious organization (or the organization's agent) that is exempt from federal income taxation under Section 501 of the Internal Revenue Code. [Pre-2006 Recodification Citation: 21-5-12-2.]

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A school corporation or corporations may enter
into a lease or lease with option to purchase under this chapter only
with:
(1) a corporation organized under Indiana law or admitted to do
business in Indiana; or
(2) a religious organization (or the organization's agent) that is
exempt from federal income taxation under Section 501 of the
Internal Revenue Code.
[Pre-2006 Recodification Citation: 21-5-12-2.]