Indiana § 21-34-3-4.5 - State educational institution lease or sublease to acquire or improve real property
Full text of Indiana Indiana Code § 21-34-3-4.5 — State educational institution lease or sublease to acquire or improve real property, with citation guidance and answers to common questions.
§ 21-34-3-4.5. State educational institution lease or sublease to acquire or improve real property
Sec. 4.5. Notwithstanding section 4(a)(1)(B) of this chapter, the board of trustees of a state educational institution may acquire and improve, under this article or any other applicable law, real property (improved or unimproved) by lease or sublease for a period exceeding forty (40) years but not exceeding one hundred fifty (150) years under the following conditions:
(1) The board of trustees determines the real property to be necessary for the purposes set forth in section 4(b) of this chapter.
(2) The parties to the lease or sublease are both state educational institutions.
(3) The board of trustees of each such state educational institution approves the terms, conditions, liens, and encumbrances to which the lease or sublease is subject.
As added by P.L.201-2023, SEC.232.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 21-34-3-4.5
What does Indiana Code § 21-34-3-4.5 cover?
Section 21-34-3-4.5 ("State educational institution lease or sublease to acquire or improve real property") 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 § 21-34-3-4.5?
A common citation format is "Indiana Code § 21-34-3-4.5" (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 § 21-34-3-4.5 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.