§ 36-7-38-7.5 — Boards of land banks of third class cities

Indiana § 36-7-38-7.5

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 38: Land Banks

Text

5. (a) This section applies to the board of a
land bank established by a third class city.
(b) The board of a land bank to which this section applies is
comprised of the following:
(1) Three (3) directors appointed by the executive of the third
class city. A director appointed under this subdivision must be a
resident of the third class city.
(2) Three (3) directors appointed by the legislative body of the
third class city. A director appointed under this subdivision must
be a resident of the third class city.
(3) A director appointed by the county treasurer of the county in
which the third class city is located, or the county treasurer of the
county in which most residents of the third class city reside, if the
third class city is located in more than one (1) county. A director
appointed under this subdivision must be a resident of the third
class city.
(4) At most two (2) additional directors appointed, as applicable,
in the manner and subject to the requirements set forth in the land
bank's bylaws.
(c) The terms of the initial directors of a land bank to which this
section applies are equal to:
(1) the remainder of the calendar year in which the land bank is
established; plus
(2) a number of additional years equal to:
(A) one (1) calendar year, for directors appointed under
subsection (b)(1);
(B) two (2) calendar years, for directors appointed under
subsection (b)(2); and
(C) three (3) calendar years, for directors appointed under
subsection (b)(3) or (b)(4).

Legislative History

As added by P.L.110-2017, SEC.6.