Indiana § 4-10-14-1 - Loans; expenditures for improvements; authorization by act of general assembly; violations
Full text of Indiana Indiana Code § 4-10-14-1 — Loans; expenditures for improvements; authorization by act of general assembly; violations, with citation guidance and answers to common questions.
§ 4-10-14-1. Loans; expenditures for improvements; authorization by act of general assembly; violations
Sec. 1. (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.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 4-10-14-1
What does Indiana Code § 4-10-14-1 cover?
Section 4-10-14-1 ("Loans; expenditures for improvements; authorization by act of general assembly; violations") 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 § 4-10-14-1?
A common citation format is "Indiana Code § 4-10-14-1" (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 § 4-10-14-1 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.