Indiana Statutes
§ 4-10-14-1 — Loans; expenditures for improvements; authorization by act of general assembly; violations
(a)A trustee on a board of trustees of any
benevolent, scientific, or educational institution, or any correctional
facility of the state, shall not:
(1)borrow money upon the credit of the state;
(2)contract any indebtedness on the credit of the state; or
(3)make expenditures for improvements for an institution or
correctional facility in any way;
unless the loan or expenditure of money is first authorized by an act of
the general assembly.
(b)A trustee who violates this section:
(1)commits a Class C infraction; and
(2)forfeits the trustee's office.
Formerly: Acts 1875, c.4, s.1. As amended by P.L.12-1996,
SEC.1; P.L.215-2016, SEC.65.
Free access — add to your briefcase to read the full text and ask questions with AI
Indiana § 4-10-14-1 (Loans; expenditures for improvements; authorization by act of general assembly; violations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 4-1-1-1
Dates beginning and ending§ 4-1-1-2
Reports to governor§ 4-1-10-1
Applicability§ 4-1-10-1.5
"Person"§ 4-1-10-11
Attorney general investigation of disclosures; notice to county
prosecutor and state police§ 4-1-10-12
Attorney general determination of infraction; report to appointing
authority and county prosecutor§ 4-1-10-13
Attorney general rulemaking authority§ 4-1-10-2
"State agency"§ 4-1-10-3
Nondisclosure of Social Security number§ 4-1-10-6
State agency compliance