§ 21-24-2.1-4 — Transfer of property and assets; agreements to implement chapter

Indiana § 21-24-2.1-4

• Jurisdiction: Indiana
• Title 21: HIGHER EDUCATION
• Art. 24: UNIVERSITY OF SOUTHERN INDIANA
• Ch. 2.1: Transitional Provisions Relating to Creation of the

Text

(a) Before July 1, 1985, the ISU board shall
transfer all property and other assets, regardless of whether the assets
are real, personal, tangible, or intangible, located on the regional
campus.
(b) Before July 1, 1985, the university board shall accept the
transfer of assets described in subsection (a) and assume the liabilities
described in section 5 of this chapter.
(c) The university board and the ISU board shall enter into one (1)
or more agreements that implement this chapter and that do not conflict
with P.L.218-1985. The agreements must:
(1) list or otherwise describe all assets to be transferred to the
university board under subsection (a);
(2) delineate the means of the transfers described in subsection
(a), either by deed, bill of sale, or other appropriate conveyance;
(3) delineate the required timing for each transfer described in
subsection (a);
(4) list or otherwise describe all obligations to be assumed by the
university and the means and procedures for providing for
payment and satisfaction of each obligation by the university;
(5) provide for the joint use contracts described in section 5(d) of
this chapter;
(6) provide for indemnification of the ISU board by the university
board, as necessary or appropriate, in regard to any liabilities of
the ISU board assumed by the university board; and
(7) provide for any other matters that are necessary and consistent
with P.L.218-1985.

Legislative History

As added by P.L.220-2011, SEC.356.