Indiana Statutes
§ 20-49-4-17 — Statutory construction; advance not treated as debt of school corporation
Indiana·Title 20 EDUCATION·Art. 49 STATE MANAGEMENT OF COMMON SCHOOL·Ch. 4 Advancement From Common School Fund; Buildings;
(a)An advance is not an obligation of the
school corporation within the meaning of the limitation on or
prohibition against indebtedness under the Constitution of the State of
Indiana. Nothing in this chapter relieves the governing body of a school
corporation or charter school receiving an advance of any obligation
under Indiana law to qualify the school corporation or charter school
for state tuition support. The school corporation or charter school shall
continue to perform all acts necessary to obtain these funds.
(b)Notwithstanding any bankruptcy, reorganization, or other
insolvency proceedings with respect to a charter school, an advance to
a charter school under this chapter is a preferred claim and has priority
over all other claims.
[Pre-2006 Recodification Citation: 21-1-5-7(a)
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Legislative History
As added by P.L.2-2006, SEC.172. Amended by P.L.189-2023,
SEC.52.
Nearby Sections
15
§ 20-17-1-1
"Prior law"§ 20-17-1-2
Purpose of recodification§ 20-17-1-3
Statutory construction of recodification§ 20-17-1-4
Effect of recodification§ 20-17-1-5
Recodification of prior law§ 20-17-1-6
References to repealed statutes§ 20-17-1-7
References to citations§ 20-17-1-8
References to prior rules§ 20-17-1-9
References to prior law§ 20-17-2-1
"Prior law"§ 20-17-2-2
Purpose of recodification§ 20-17-2-3
Statutory construction of recodification§ 20-17-2-4
Effect of recodification§ 20-17-2-5
Recodification of prior law§ 20-17-2-6
References to repealed statutes