Indiana § 36-1-10-8 Joint leasing

Indiana Statutes

§ 36-1-10-8 — Joint leasing

Indiana § 36-1-10-8

Title 36LOCAL GOVERNMENT

Art. 1GENERAL PROVISIONS

Ch. 10Leasing and Lease-Purchasing Structures

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Bluebook

Ind. Code § 36-1-10-8 (2026).

Text

(a)If two (2) or more leasing agents propose to enter into a lease jointly, joint meetings of the leasing agents may be held. However, joint leasing must be approved by each leasing agent's fiscal body.

(b)A lease executed by two (2) or more leasing agents as joint lessees must set out the amount of the total rental to be paid by each. A lessee has no right of occupancy or use of the transportation project or system until the total rental is paid as stipulated by the contract. [Pre-Local Government Recodification Citation: 18-5-3.3-1 part.] As added by Acts 1981, P.L.57, SEC.36. Amended by P.L.37-1988, SEC.13; P.L.343-1989(ss), SEC.16.

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(a) If two (2) or more leasing agents propose
to enter into a lease jointly, joint meetings of the leasing agents may be
held. However, joint leasing must be approved by each leasing agent's
fiscal body.
(b) A lease executed by two (2) or more leasing agents as joint
lessees must set out the amount of the total rental to be paid by each.
A lessee has no right of occupancy or use of the transportation project
or system until the total rental is paid as stipulated by the contract.
[Pre-Local Government Recodification Citation: 18-5-3.3-1
part.]
As added by Acts 1981, P.L.57, SEC.36. Amended by
P.L.37-1988, SEC.13; P.L.343-1989(ss), SEC.16.