Indiana § 16-22-7-20 - Cumulative building fund as lease rental payment source
Full text of Indiana Indiana Code § 16-22-7-20 — Cumulative building fund as lease rental payment source, with citation guidance and answers to common questions.
§ 16-22-7-20. Cumulative building fund as lease rental payment source
Sec. 20. Part or all of the cumulative building fund of the city hospital in existence at the time of execution of the lease to the lessee, or during the term of the lease, may be used to pay lease rental or may be held as a reserve for the payment of future lease rentals. The reserve fund described in this section is distinct from a reserve fund established under section 19 of this chapter. The board of directors of the hospital may decrease or eliminate the reserve fund unless the lease provides otherwise. The reserve fund may not exceed an amount equal to the amount of lease rental payable from net revenues for two (2) years. Interest or income on the reserve fund shall be transferred to the cumulative building fund of the city hospital.
[Pre-1993 Recodification Citation: 16-12-20.5-13.]
As added by P.L.2-1993, SEC.5.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 16-22-7-20
What does Indiana Code § 16-22-7-20 cover?
Section 16-22-7-20 ("Cumulative building fund as lease rental payment source") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 16-22-7-20?
A common citation format is "Indiana Code § 16-22-7-20" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 16-22-7-20 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.