Indiana § 23-13-15-1 - Universities and colleges; authorization; acceptance of section
Full text of Indiana Indiana Code § 23-13-15-1 — Universities and colleges; authorization; acceptance of section, with citation guidance and answers to common questions.
§ 23-13-15-1. Universities and colleges; authorization; acceptance of section
Sec. 1. Any university or college, incorporated by and under the laws of the state of Indiana, shall have the right to acquire and hold real estate by donation, devise, or purchase on foreclosure of mortgage given to secure any part of the endowment fund of said university or college, and the same to dispose of for the use and purposes of such university or college, such real estate not to exceed in value the sum of five hundred thousand dollars ($500,000), exclusive of the realty used and occupied for university and college grounds and buildings; provided, that all such real estate shall be disposed of within twenty (20) years after the same has been so acquired; and provided, further, that any such university or college shall, no later than September 9, 1885, file with the secretary of state of Indiana a certified copy of the proceedings of the board of trustees of such university or college accepting the provisions of this section as part of the organic laws of such university or college.
Formerly: Acts 1885, c.49, s.1. As amended by P.L.34-1987, SEC.357.
IC 23-13-16Chapter 16. Holding of Excess Property Legalized
23-13-16-1Repealed 23-13-16-2Amendment of charter to remove limitations 23-13-16-3Procedure to remove limitations in charter 23-13-16-4Amendment of charter provisions relating to number of trustees or directors; procedure
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 23-13-15-1
What does Indiana Code § 23-13-15-1 cover?
Section 23-13-15-1 ("Universities and colleges; authorization; acceptance of section") 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 § 23-13-15-1?
A common citation format is "Indiana Code § 23-13-15-1" (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 § 23-13-15-1 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.