Indiana § 20-47-3-7 Permissible provisions of lease; payment of taxes; insurance

Indiana Statutes

§ 20-47-3-7 — Permissible provisions of lease; payment of taxes; insurance

Indiana § 20-47-3-7

Title 20EDUCATION

Art. 47RELATED ENTITIES; HOLDING COMPANIES;

Ch. 3Private Holding Companies

This text of Indiana § 20-47-3-7 (Permissible provisions of lease; payment of taxes; insurance) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 20-47-3-7 (2026).

Text

A lease entered into under this chapter may provide that as a part of the lease rental for the school building or buildings the lessee or lessees shall:

(1)pay all taxes and assessments levied against or on account of the leased property;

(2)maintain insurance on the leased property for the benefit of the lessor corporation; and

(3)assume all responsibilities for repair and alterations of the leased property during the term of the lease. [Pre-2006 Recodification Citation: 21-5-12-5.]

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A lease entered into under this chapter may
provide that as a part of the lease rental for the school building or
buildings the lessee or lessees shall:
(1) pay all taxes and assessments levied against or on account of
the leased property;
(2) maintain insurance on the leased property for the benefit of
the lessor corporation; and
(3) assume all responsibilities for repair and alterations of the
leased property during the term of the lease.
[Pre-2006 Recodification Citation: 21-5-12-5.]