reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 3. Midwestern Higher Education Compact › 21-28-3-6. Finance

Sec. 6. ARTICLE V. FINANCE. (a) The money necessary to finance the general operations of the Commission not otherwise provided for in carrying forth its duties, responsibilities, and powers as stated in this chapter shall be appropriated to the Commission by the compacting states, when authorized by the respective legislatures by equal apportionment among the compacting states.
(b) The Commission shall not incur any obligations of any kind prior to the making of appropriations adequate to meet the same; nor shall the Commission pledge the credit of any of the compacting states, except by and with the authority of the compacting state.
(c) The Commission shall keep accurate accounts of all receipts and disbursements. The receipts and disbursements of the Commission shall be subject to the audit and accounting procedures established under its bylaws. However, all receipts and disbursements of funds handled by the Commission shall be audited yearly by a certified or licensed public accountant, and the report of the audit shall be included in and become part of the annual report of the Commission.
(d) The accounts of the Commission shall be open at any reasonable time for inspection by duly authorized representatives of the compacting states and persons authorized by the Commission.
[Pre-2007 Higher Education Recodification Citation: 20-12-73-7.]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 3. Midwestern Higher Education Compact › 21-28-3-7. Eligible Parties and Entry Into Force

Sec. 7. ARTICLE VI. ELIGIBLE PARTIES AND ENTRY INTO FORCE. (a) The states of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin are eligible to become party to this Compact. Additional states are eligible if approved by a majority of the compacting states.
(b) As to any eligible party state, this Compact is effective when its legislature enacts the same into law; however, it is not initially effective until enacted into law by five (5) states prior to December 31, 1995.
(c) Amendments to the Compact shall become effective upon their enactment by the legislatures of all compacting states.
[Pre-2007 Higher Education Recodification Citation: 20-12-73-8.]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 3. Midwestern Higher Education Compact › 21-28-3-8. Withdrawal, Default, and Termination

Sec. 8. ARTICLE VII. WITHDRAWAL, DEFAULT, AND TERMINATION. (a) Any compacting state may withdraw from this Compact by enacting a statute repealing the Compact, but such withdrawal shall not become effective until two (2) years after the enactment of such statute. A withdrawing state shall be liable for any obligations which it may have incurred on account of its party status up to the effective date of withdrawal, except that if the withdrawing state has specifically undertaken or committed itself to any performance of an obligation extending beyond the effective date of withdrawal, it shall remain liable to the extent of such obligation.
(b) If any compacting state shall at any time default in the performance of any of its obligations, assumed or imposed, in accordance with the provisions of this Compact, all rights, privileges, and benefits conferred by this Compact or agreements hereunder shall be suspended from the effective date of such default as fixed by the Commission, and the Commission shall stipulate the conditions and maximum time for compliance under which the defaulting state may resume its regular status. Unless such default is remedied under the stipulations and within the time period set forth by the Commission, this Compact may be terminated with respect to such defaulting state by affirmative vote of a majority of the other member states. Any such defaulting state may be reinstated by performing all acts and obligations as stipulated by the Commission.
[Pre-2007 Higher Education Recodification Citation: 20-12-73-9.]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 3. Midwestern Higher Education Compact › 21-28-3-9. Severability and Construction

Sec. 9. ARTICLE VIII. SEVERABILITY AND CONSTRUCTION. The provisions of this Compact entered into hereunder shall be severable and if any phrase, clause, sentence, or provision of this Compact is declared to be contrary to the constitution of any compacting state or of the United States or the applicability thereof to any government, agency, person, or circumstance is held invalid, the validity of the remainder of this Compact and the applicability thereof to any government, agency, person, or circumstance shall not be affected thereby. If this Compact entered into hereunder shall be held contrary to the constitution of any compacting state, the Compact shall remain in full force and effect as to the remaining states and in full force and effect as to the state affected as to all severable matters. The provisions of this Compact entered into pursuant hereto shall be liberally construed to effectuate the purposes thereof.
[Pre-2007 Higher Education Recodification Citation: 20-12-73-10.]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 3. Midwestern Higher Education Compact › 21-28-3-10. Indiana Residents as Members; Terms; Removal; Vacancies

Sec. 10. (a) The five (5) residents of Indiana who shall serve as members of the commission representing the state of Indiana are as follows:
(1) The governor or the governor's designee. The term of the governor or the governor's designee is the same as the governor's term of office.
(2) One (1) member of the house of representatives appointed by the speaker of the house of representatives for a two (2) year term. A vacancy occurs if an appointee under this subdivision ceases to be a member of the house of representatives.
(3) One (1) member of the senate appointed by the president pro tempore of the senate for a two (2) year term. A vacancy occurs if an appointee under this subdivision ceases to be a member of the senate.
(4) Two (2) persons from the field of higher education appointed by the governor as at-large members for a term of four (4) years. A vacancy occurs if an appointee under this subdivision leaves the field of higher education.
(b) A member serves at the pleasure of the appointing authority and may be removed for any reason.
(c) A member serves until the expiration of the member's term or the appointing authority appoints a successor, whichever is later. However, this subsection does not apply if the vacancy occurs because a member ceases to be the governor or a member of the general assembly.
(d) The appointing authority shall fill a vacancy for the remainder of the term of the vacating member.
[Pre-2007 Higher Education Recodification Citation: 20-12-73-11.]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 4. Joint Building and Financing Agreements; Joint Laboratory School Agreements › 21-28-4-1. Applicability of Chapter

Sec. 1. This chapter applies to all state educational institutions.
[Pre-2007 Higher Education Recodification Citation: 20-12-65-2.]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 4. Joint Building and Financing Agreements; Joint Laboratory School Agreements › 21-28-4-2. Board; Limitation of Powers

Sec. 2. This chapter does not authorize the board of trustees of a state educational institution to exercise a power under an agreement that the board of trustees could not otherwise separately exercise under an enabling statute.
[Pre-2007 Higher Education Recodification Citation: 20-12-65-3(c).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 4. Joint Building and Financing Agreements; Joint Laboratory School Agreements › 21-28-4-3. Joint Powers

Sec. 3. If:
(1) the board of trustees of a state educational institution wants to exercise a power or powers conferred to it under one (1) or more of the state educational institution's enabling statutes; and
(2) the board of trustees of one (1) or more other state educational institutions want to exercise a power or powers conferred to it or them under one (1) or more enabling statutes;
both or all of those boards of trustees may exercise the powers jointly as provided in this chapter.
[Pre-2007 Higher Education Recodification Citation: 20-12-65-3(a).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 4. Joint Building and Financing Agreements; Joint Laboratory School Agreements › 21-28-4-4. Resolutions

Sec. 4. A board of trustees that wants to exercise powers granted in an enabling act must enter into a written agreement by resolution.
[Pre-2007 Higher Education Recodification Citation: 20-12-65-3(b).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 4. Joint Building and Financing Agreements; Joint Laboratory School Agreements › 21-28-4-5. Agreements

Sec. 5. An agreement:
(1) must provide for the following:
(A) Its duration.
(B) Its purpose.
(C) The manner of:
(i) financing, staffing, and supplying the joint undertaking; and
(ii) establishing and maintaining a budget for the joint undertaking.
(D) The methods that may be employed to:
(i) accomplish the partial or complete termination of the agreement; and
(ii) dispose of property upon partial or complete termination.
(E) Administration through a separate legal entity.
(F) With respect to a separate legal entity:
(i) the nature;
(ii) the organization;
(iii) the composition; and
(iv) the powers;
of the separate legal entity; and
(2) may provide for any other appropriate matters.
[Pre-2007 Higher Education Recodification Citation: 20-12-65-4(a).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 4. Joint Building and Financing Agreements; Joint Laboratory School Agreements › 21-28-4-6. Separate Legal Entities; Powers

Sec. 6. A separate legal entity established by an agreement has only the powers delegated to it by the agreement.
[Pre-2007 Higher Education Recodification Citation: 20-12-65-4(b).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 4. Joint Building and Financing Agreements; Joint Laboratory School Agreements › 21-28-4-7. Agreement Filings

Sec. 7. Before an agreement takes effect, a copy of the agreement must be filed with the board of trustees of each state educational institution that is a party to the agreement.
[Pre-2007 Higher Education Recodification Citation: 20-12-65-5.]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 4. Joint Building and Financing Agreements; Joint Laboratory School Agreements › 21-28-4-8. Agreement Filings; State Board of Accounts

Sec. 8. Not later than sixty (60) days after an agreement takes effect, a copy of the agreement must be filed with:
(1) the state board of accounts for audit purposes; and
(2) the budget agency.
[Pre-2007 Higher Education Recodification Citation: 20-12-65-6.]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-1. Applicability of Chapter

Sec. 1. This chapter applies to the following:
(1) A state educational institution.
(2) A private postsecondary educational institution.
[2007 Higher Education Recodification Citation: New.]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-2. Authority to Use Multipurpose, Multimedia, Closed Circuit Statewide Telecommunications System

Sec. 2. The board of trustees of any combination of state educational institutions and the board of directors of any combination of private postsecondary educational institutions may, if they find the need exists for a broad dissemination of a wide variety of educational communications for the improvements and the advancement of higher educational opportunity, jointly arrange, for a period not exceeding ten (10) years, for:
(1) services provided by the office of technology; and
(2) the use of a multipurpose, multimedia, closed circuit, statewide telecommunications system furnished by communications common carriers subject to the jurisdiction of the Indiana utility regulatory commission;
to interconnect the main campuses and the regional campuses of the participating educational institutions and centers of medical education and service.
[Pre-2007 Higher Education Recodification Citation: 20-12-12-1(c).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-3. Administration and Supervision of System and Programs in Electronic Format

Sec. 3. In addition to the closed circuit statewide telecommunications system, the participating educational institutions shall establish, in accordance with federal copyright law, programs in an electronic format to provide for the advancement of higher education opportunity and individualized access to higher education programs. The program may make available a wide variety of higher education courses in electronic format. The participating educational institutions shall make information in an electronic format available to the public by any means of public or private distribution that they determine to be appropriate, including sale or lease. The participating educational institutions may determine policy and establish procedures to administer this program. The participating educational institutions shall maintain and keep current, in an electronic format, a listing of all information.
[Pre-2007 Higher Education Recodification Citation: 20-12-12-1(d).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-4. Use of System or Programs in Electronic Format by Other Entities

Sec. 4. A transmission system must be for the exclusive use of the participating educational institutions. However, the participating educational institutions may permit the use of the transmission system, or any part of the transmission system, by others under section 10 of this chapter.
[Pre-2007 Higher Education Recodification Citation: 20-12-12-1(e).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-5. Designation of Transmission System; Criteria

Sec. 5. A transmission system must be designed to permit the installation of additional capacity and coverage as accumulating communication needs of higher education may require. The system must:
(1) be capable of transmitting high fidelity television signals, high fidelity sound signals, data signals for computer communications, and voice traffic; and
(2) include control circuits.
[Pre-2007 Higher Education Recodification Citation: 20-12-12-2(a).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-6. Transmission System; Terms and Conditions of Use

Sec. 6. The arrangements for the use of the transmission system may be upon terms and conditions as the participating educational institutions determine are necessary, proper, or desirable.
[Pre-2007 Higher Education Recodification Citation: 20-12-12-2(b).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-7. Approval of Coordinating Unit

Sec. 7. Plans or arrangements for the use of the transmission system may not be adopted or entered into under this chapter without the specific approval of the coordinating unit.
[Pre-2007 Higher Education Recodification Citation: 20-12-12-2(c).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-8. Coordinating Committee or Unit; Establishment

Sec. 8. The participating educational institutions shall establish a coordinating committee or other body composed of persons that the participating educational institutions select. The chief information officer or the chief information officer's designee shall be a member of any coordinating unit. The coordinating unit may administer and supervise the use of the transmission system and the information in designated electronic format as may be delegated to it by the participating educational institutions. The participating educational institutions shall have equal representation on the coordinating unit.
[Pre-2007 Higher Education Recodification Citation: 20-12-12-3(a).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-9. Advisory Council; Establishment

Sec. 9. The participating educational institutions must establish an advisory council of representatives of users of the transmission system.
[Pre-2007 Higher Education Recodification Citation: 20-12-12-3(b).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-10. Transmission System; Use

Sec. 10. (a) Any arrangements for the use of the transmission system or information in the designated electronic format must provide that the participating educational institutions (or any committee or other body established under this chapter, if power is delegated to them) may permit any of the following entities to use the transmission system or the information in the designated electronic format for educational purposes:
(1) Postsecondary educational institutions.
(2) Governmental or public corporations or bodies.
(3) Other corporations.
(4) Partnerships.
(5) Associations.
(6) Trusts.
(7) Limited liability companies.
(8) Other persons.
(b) Any use permitted under this section is subject to the rules, regulations, fees, and charges as the participating educational institutions or coordinating unit may prescribe.
(c) Each entity that uses the transmission system is responsible for the origination of the program to be transmitted by that entity and for the reception and use of the program at the destination.
(d) The payment of all costs that exceed the cost of the use of the transmission system facilities and the information in electronic format shall be borne by the parties using the system as agreed upon.
[Pre-2007 Higher Education Recodification Citation: 20-12-12-4.]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-11. Power to Accept Gifts and Federal Aid

Sec. 11. In connection with the use of the telecommunications system, the information in the designated electronic format, or any other related matter, the participating educational institutions may accept gifts or contributions from individuals, corporations, limited liability companies, partnerships, associations, trusts, or foundations and may accept funds from any federal agency under terms and conditions that the participating educational institutions determine are necessary or desirable.
[Pre-2007 Higher Education Recodification Citation: 20-12-12-5(a).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-12. Power to Enter Into Contracts

Sec. 12. The participating educational institutions may enter into and carry out contracts and agreements in connection with this chapter. All contracts and agreements entered into must be approved by the coordinating unit.
[Pre-2007 Higher Education Recodification Citation: 20-12-12-5(b).]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-13. Higher Education Statewide Telecommunications Fund; Establishment

Sec. 13. (a) The higher education statewide telecommunications fund is established as a special and distinct fund. Expenditures from the fund may be made only for the following:
(1) Payments by the participating educational institutions for the use of a transmission system or the lease, purchase, rental, or production of information in a designated electronic format.
(2) Studies regarding the possibilities of extending the use of the transmission system:
(A) to state educational institutions or private postsecondary educational institutions in Indiana that are not participating educational institutions; and
(B) for post-high school and other educational uses.
(3) The expenses of coordinating, planning, and supervising the use of the transmission system and the information in the designated electronic format.
(4) Equipment for the originating and receiving of instructional communication and educational information by means of the transmission system and the information in the designated electronic format.
(b) The state auditor shall pay, as needed, from the fund amounts to the board of trustees of Indiana University as agent for the participating educational institutions.
(c) The board of trustees of Indiana University, as agent, shall apply the funds to the payment of items as payment becomes due from the fund.
[Pre-2007 Higher Education Recodification Citation: 20-12-12-6.]
As added by P.L.2-2007, SEC.269.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 5. Indiana Higher Education Telecommunications System › 21-28-5-14. Additional Members of and Connections to I-Light Prohibited

Sec. 14. (a) This section does not apply to a person that:
(1) is not a state educational institution or a private postsecondary educational institution; and
(2) is a member of I-Light or is connected to or uses the I-Light network or services made available through I-Light;
before April 1, 2012.
(b) As used in this section, "I-Light" refers to the high speed communications network that connects state educational institutions and private postsecondary educational institutions throughout Indiana. The term includes the networks, and any successor networks, known at any time as I-Light or I-Light 2.
(c) As used in this section, "person" means any individual, corporation, limited liability company, partnership, firm, association, public or private agency, or other organization.
(d) Notwithstanding section 10 of this chapter, and except as provided in subsection (a) and IC 8-1-32.7-5(b)(2), after March 31, 2012, a person that is not:
(1) a state educational institution; or
(2) a private postsecondary educational institution;
may not become a member of I-Light or otherwise connect to or use the I-Light network or any services made available through I-Light.
As added by P.L.79-2012, SEC.2.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 6. Information for Members of the General Assembly › 21-28-6-1. "Research Tool"

Sec. 1. As used in this chapter, "research tool" includes:
(1) online research services;
(2) online and hard copy subscriptions to publications; and
(3) any other source of information used for research available to an educational institution.
As added by P.L.12-2010, SEC.1.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 6. Information for Members of the General Assembly › 21-28-6-2. Access to Research Tools for Members of the General Assembly and Legislative Services Agency Staff

Sec. 2. A state educational institution must provide access to all research tools available to the educational institution to each member of the general assembly and staff of the legislative services agency, at no cost, upon the request of a member of the general assembly or staff of the legislative services agency.
As added by P.L.12-2010, SEC.1.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 6. Information for Members of the General Assembly › 21-28-6-3. Requests for Information Must Be for Purposes Related to Official Duties

Sec. 3. A request made by a member of the general assembly or staff of the legislative services agency under section 2 of this chapter must be for the purpose of obtaining information related to carrying out the official duties of the member of the general assembly.
As added by P.L.12-2010, SEC.1.
2023 Indiana Code › Title 21. Higher Education › Article 28. State Educational Institutions: Cooperative Arrangements, Interstate Compacts; Educational Support Entities › Chapter 6. Information for Members of the General Assembly › 21-28-6-4. Educational Institutions May Deny Requests for Information if Impact on Grant Funding Research Tool

Sec. 4. (a) Notwithstanding section 2 of this chapter, a state educational institution may deny a member of the general assembly or staff of the legislative services agency access to a research tool if the research tool was purchased through a grant or other source that limits access to use of the research tool in a way that would make granting access to the research tool a violation of the grant or agreement covering the payment for the research tool.
(b) Nothing in this chapter requires a state educational institution to expend additional funds or to violate the terms of a subscription agreement applicable to a journal or other research tool.
As added by P.L.12-2010, SEC.1.
2023 Indiana Code › Title 21. Higher Education › Article 29. State Educational Institutions: Investments › Chapter 1. General Provisions; Definitions › 21-29-1-2. "Obligations"

Sec. 2. "Obligations" means bonds, notes, bond anticipation notes, commercial paper, leases, lease-purchases, installment purchases, certificates of participation in agreements or programs, other evidences of indebtedness, or other agreements or purchasing programs.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.3-2.]
As added by P.L.2-2007, SEC.270.
2023 Indiana Code › Title 21. Higher Education › Article 29. State Educational Institutions: Investments › Chapter 1. General Provisions; Definitions › 21-29-1-3. "Swap Agreement"

Sec. 3. "Swap agreement" refers to:
(1) an agreement (including terms and conditions incorporated by reference in the agreement) that is a rate swap agreement, basis swap, forward rate agreement, interest rate option, rate cap agreement, rate floor agreement, rate collar agreement, or any other similar agreement (including any option to enter into any of the agreements described in this subdivision);
(2) any combination of the agreements described in subdivision (1); or
(3) a master agreement for an agreement or a combination of agreements described in subdivisions (1) and (2), together with all supplements to the agreement.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.3-4.]
As added by P.L.2-2007, SEC.270.
2023 Indiana Code › Title 21. Higher Education › Article 29. State Educational Institutions: Investments › Chapter 2. General Powers; Board of Trustees › 21-29-2-1. Applicability of Section; Investment of Funds

Sec. 1. (a) This section applies to the board of trustees of the following state educational institutions:
(1) Ball State University.
(2) Indiana University.
(3) Indiana State University.
(4) Purdue University.
(5) University of Southern Indiana.
(b) The board of trustees of a state educational institution may establish and carry out written policies for the investment of the funds of the state educational institution in the manner provided by IC 30-4-3-3.
[Pre-2007 Higher Education Recodification Citation: 20-12-1-2(a)(10).]
As added by P.L.2-2007, SEC.270.
2023 Indiana Code › Title 21. Higher Education › Article 29. State Educational Institutions: Investments › Chapter 2. General Powers; Board of Trustees › 21-29-2-2. Board; Investment of Funds

Sec. 2. The board of trustees of Ivy Tech Community College may establish written policies for the investment of the funds of Ivy Tech Community College in the manner provided by IC 30-4-3-3.
[Pre-2007 Higher Education Recodification Citation: 20-12-61-13(a)(11).]
As added by P.L.2-2007, SEC.270.
2023 Indiana Code › Title 21. Higher Education › Article 29. State Educational Institutions: Investments › Chapter 3. Swap Agreements › 21-29-3-1. Liberal Construction

Sec. 1. This chapter applies notwithstanding any other law. This chapter shall be liberally construed.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.3-1.]
As added by P.L.2-2007, SEC.270.
2023 Indiana Code › Title 21. Higher Education › Article 29. State Educational Institutions: Investments › Chapter 3. Swap Agreements › 21-29-3-2. Investment Powers

Sec. 2. This chapter shall not be construed as limiting or restricting the investment powers otherwise provided state educational institutions, including the power to adopt and implement investment policies under IC 21-29-2-1 and IC 21-29-2-2.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.3-6.]
As added by P.L.2-2007, SEC.270. Amended by P.L.79-2010, SEC.1.
2023 Indiana Code › Title 21. Higher Education › Article 29. State Educational Institutions: Investments › Chapter 3. Swap Agreements › 21-29-3-3. Powers and Duties of State Educational Institutions

Sec. 3. (a) Subject to subsections (b) through (d), any state educational institution may enter into and modify, amend, or terminate one (1) or more swap agreements that the state educational institution determines to be necessary or desirable in connection with or incidental to the issuance, carrying, or securing of obligations. Swap agreements entered into by a state educational institution must:
(1) contain the provisions (including payment, term, security, default, and remedy provisions); and
(2) be with the parties;
that the state educational institution determines are necessary or desirable after due consideration is given to the creditworthiness of the parties.
(b) A state educational institution may not:
(1) enter into, modify, amend, or terminate any swap agreement without the specific approval of the public finance director appointed under IC 5-1.2-3-6;
(2) enter into any swap agreement under this section other than for the purpose of managing an interest rate or similar risk that arises in connection with or incidental to the issuance, carrying, or securing of obligations by the state educational institution; or
(3) carry on a business of acting as a dealer in swap agreements.
(c) A swap agreement is considered as being entered into in connection with or incidental to the issuance, carrying, or securing of obligations if:
(1) the swap agreement is entered into not more than one hundred eighty (180) days after the issuance of the obligations and specifically indicates the agreement's relationship to the obligations;
(2) the board of trustees of the state educational institution specifically designates the swap agreement as having a relationship to the particular obligations;
(3) the swap agreement amends, modifies, or reverses a swap agreement described in subdivision (1) or (2); or
(4) the terms of the swap agreement bear a reasonable relationship to the terms of the obligations.
(d) Payments to be made by a state educational institution to any other party under a swap agreement are payable only from the same source or sources of funds from which the related obligations are payable.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.3-5.]
As added by P.L.2-2007, SEC.270. Amended by P.L.182-2009(ss), SEC.365; P.L.189-2018, SEC.150.
2023 Indiana Code › Title 21. Higher Education › Article 29. State Educational Institutions: Investments › Chapter 3. Swap Agreements › 21-29-3-4. Credit Enhancement and Liquidity Agreements

Sec. 4. With regard to entering into any swap agreement, the state educational institution may enter into credit enhancement or liquidity agreements with payment, security, default, remedy, and other terms and conditions as determined by the state educational institution.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.3-7.]
As added by P.L.2-2007, SEC.270.
2023 Indiana Code › Title 21. Higher Education › Article 29. State Educational Institutions: Investments › Chapter 3. Swap Agreements › 21-29-3-5. Enforcement of Swap Agreements

Sec. 5. (a) This section does not apply in cases of bad faith or actual knowledge to the contrary by a party.
(b) A party that enters into any swap agreement with a state educational institution may rely on a representation by that state educational institution that the state educational institution is authorized or empowered to enter into the swap agreement, and notwithstanding the failure by the state educational institution to comply with the provisions of this chapter, that party may enforce the swap agreement against the state educational institution, subject to the terms of the swap agreement and subject to prior claims on sources from which the swap agreement may be payable.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.3-8.]
As added by P.L.2-2007, SEC.270.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 1. General Provisions; Definitions › 21-30-1-1. Definitions

Sec. 1. The definitions in this chapter apply throughout this article.
[2007 Higher Education Recodification Citation: New.]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 1. General Provisions; Definitions › 21-30-1-2. "Board of Trustees"

Sec. 2. "Board of trustees", for purposes of IC 21-30-5, refers to the board of trustees of Vincennes University.
[2007 Higher Education Recodification Citation: New.]
As added by P.L.2-2007, SEC.271. Amended by P.L.178-2018, SEC.11.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 2. Gift Annuities; Restrictions on Gifts; Gifts for a Permanent Endowment › 21-30-2-1. Power to Accept Gifts

Sec. 1. Any state educational institution or the state of Indiana may:
(1) receive gifts, bequests, and devises of real or personal property, or both, for the aid or maintenance of any state educational institution; and
(2) agree to return to the donor or to any living person named by the donor and living at the time of the gift, an annuity under the provisions and safeguards provided in this chapter.
[Pre-2007 Higher Education Recodification Citation: 4-24-2-1 part.]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 2. Gift Annuities; Restrictions on Gifts; Gifts for a Permanent Endowment › 21-30-2-2. Annuity Gifts; Conditions

Sec. 2. If the gift is for the purpose of providing an annuity, the gift may be accepted by any state educational institution or by the state upon condition that the state educational institution or the state shall pay to:
(1) the donor, for the life of the donor or for a term of years not beyond the lifetime of the donor, as may be agreed; or
(2) any person or persons named by the donor and living at the time of the gift, for the life of the person or persons or for a term of years not beyond the lifetime of the person or persons, as may be agreed;
an annuity on the value of the property at the time the gift is made. The annuity must not exceed the actual income from the property donated.
[Pre-2007 Higher Education Recodification Citation: 4-24-2-2.]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 2. Gift Annuities; Restrictions on Gifts; Gifts for a Permanent Endowment › 21-30-2-3. Determination of Gift Value

Sec. 3. The value of the property comprised in the gift shall be determined by three (3) disinterested appraisers appointed by the governor, and a gift may not be accepted by any institution named in section 1 of this chapter or by the state itself unless it is approved by the governor.
[Pre-2007 Higher Education Recodification Citation: 4-24-2-3.]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 2. Gift Annuities; Restrictions on Gifts; Gifts for a Permanent Endowment › 21-30-2-4. Security of Payment of Annuities

Sec. 4. To secure the payment of annuities, the property comprised in the gift may be pledged, by way of mortgage or otherwise, to the annuitant or annuitants for the full period of the life of the annuity or annuities. The property pledged is the sole guarantee and the state shall not be obligated by the mortgage or other obligation.
[Pre-2007 Higher Education Recodification Citation: 4-24-2-4.]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 2. Gift Annuities; Restrictions on Gifts; Gifts for a Permanent Endowment › 21-30-2-5. Tax Exemption

Sec. 5. All annuities provided in connection with a gift are free of all taxation within Indiana.
[Pre-2007 Higher Education Recodification Citation: 4-24-2-5.]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 2. Gift Annuities; Restrictions on Gifts; Gifts for a Permanent Endowment › 21-30-2-6. Restrictions on Acceptance of Gifts

Sec. 6. A state educational institution may not receive a gift, whether on the payment of an annuity or otherwise, that pledges the state educational institution to engage in a course of instruction, or perform an act other than a course of instruction or act that the state educational institution is permitted by law to engage in or perform.
[Pre-2007 Higher Education Recodification Citation: 4-24-2-6 part.]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 2. Gift Annuities; Restrictions on Gifts; Gifts for a Permanent Endowment › 21-30-2-7. Trusts; Management

Sec. 7. All gifts of money, and all money realized from real and personal property made under this chapter to permanently endow:
(1) a state educational institution; or
(2) a chair of learning or department in a state educational institution;
shall be taken in charge by the state of Indiana, as a trust, and managed in all respects the same as the common school fund of the state is managed, and the proceeds arising therefrom shall be paid to the state educational institution being endowed for the purposes provided by the terms of the gift.
[Pre-2007 Higher Education Recodification Citation: 4-24-2-7 part.]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 3. Gifts, Bequests, and Devises; Annuity Gifts; State Educational Institutions Other Than Ivy Tech Community College and Vincennes University › 21-30-3-1. Applicability of Chapter

Sec. 1. This chapter applies to the boards of trustees of the following state educational institutions:
(1) Indiana University.
(2) Purdue University.
(3) Indiana State University.
(4) University of Southern Indiana.
(5) Ball State University.
[Pre-2007 Higher Education Recodification Citation: 20-12-4-1 part.]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 3. Gifts, Bequests, and Devises; Annuity Gifts; State Educational Institutions Other Than Ivy Tech Community College and Vincennes University › 21-30-3-2. Board; Acceptance of Gifts, Devises, and Bequests

Sec. 2. The board of trustees of a state educational institution may accept gifts, bequests, and devises of personal and real property:
(1) for the maintenance, use, or benefit of the state educational institution; or
(2) to be administered for other public, charitable purposes for the benefit or use of students of any state educational institution.
[Pre-2007 Higher Education Recodification Citation: 20-12-4-1 part.]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 3. Gifts, Bequests, and Devises; Annuity Gifts; State Educational Institutions Other Than Ivy Tech Community College and Vincennes University › 21-30-3-3. Board; Use of Transferred Property

Sec. 3. The board of trustees of a state educational institution may receive, accept, hold, administer, and use any property transferred to the board of trustees by gift, bequest, or devise, with the terms, conditions, obligations, liabilities, and burdens imposed on the gift, bequest, or devise, if, in the judgment of the board of trustees, it is for the best interest of the educational institution receiving the gift, bequest, or devise.
[Pre-2007 Higher Education Recodification Citation: 20-12-4-2(a).]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 3. Gifts, Bequests, and Devises; Annuity Gifts; State Educational Institutions Other Than Ivy Tech Community College and Vincennes University › 21-30-3-4. Annuity Gifts; Conditions

Sec. 4. (a) Subject to subsection (b), if a gift, devise, or bequest is made for the purpose of providing an annuity, the gift, devise, or bequest may be accepted by the board of trustees on condition that the state educational institution:
(1) pay to the donor, for the life of the donor or for a term of years not beyond the lifetime of the donor, as may be agreed upon;
(2) pay to any person or persons named by the donor or testator and alive at the time of the making of the gift, devise, or bequest, for the life or lives of the named person or persons, as may be agreed upon; or
(3) pay to the donor or to any person or persons named by the donor or testator and alive at the time of the making of the gift, devise, or bequest, for the life of the donor and the life or lives of the named person or persons, either in succession in a designated order of survivorship or in shares, concurrently, as may be agreed upon;
an annuity on the value of the property at the time the gift, devise, or bequest is made.
(b) The annuity must not exceed the actual income of the property donated, devised, or bequeathed, unless:
(1) a written agreement to pay a greater sum than the annuity is:
(A) executed by the board of trustees of the state educational institution; and
(B) approved by the governor; and
(2) no part of the annuity is paid out of the funds or income:
(A) granted:
(i) to the board of trustees of the state educational institution for any of the state educational institutions; and
(ii) by the general assembly; and
(B) derived from taxation.
[Pre-2007 Higher Education Recodification Citation: 20-12-4-2(b).]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 3. Gifts, Bequests, and Devises; Annuity Gifts; State Educational Institutions Other Than Ivy Tech Community College and Vincennes University › 21-30-3-5. Security of Payment of Annuities

Sec. 5. (a) To secure the payment of annuities, granted under this chapter, the property comprised in the gift, devise, or bequest may be pledged by way of mortgage or otherwise to the annuitant or annuitants for the full period of the life of the annuity or annuities.
(b) Property pledged under subsection (a) is the sole guarantee, and the donee shall not be obligated in any other manner unless by written agreement of the donee approved by the governor as provided in section 4 of this chapter.
[Pre-2007 Higher Education Recodification Citation: 20-12-4-3.]
As added by P.L.2-2007, SEC.271.
2023 Indiana Code › Title 21. Higher Education › Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises › Chapter 4. Gifts, Bequests, and Devises; Ivy Tech Community College › 21-30-4-1. Applicability of Chapter

Sec. 1. This chapter applies to Ivy Tech Community College.
[2007 Higher Education Recodification Citation: New.]
As added by P.L.2-2007, SEC.271.