Indiana § 5-33-3-2 - Body corporate and politic; accounting compliance
Full text of Indiana Indiana Code § 5-33-3-2 — Body corporate and politic; accounting compliance, with citation guidance and answers to common questions.
§ 5-33-3-2. Body corporate and politic; accounting compliance
Sec. 2. (a) The corporation is:
(1) a public body corporate and politic; and
(2) an instrumentality of the state.
(b) The corporation is separate from the state. However, the exercise by the corporation of its powers is an essential governmental function.
(c) The board may engage an independent certified public accounting firm to conduct an examination of:
(1) the corporation and the corporation's funds, accounts, and financial affairs; and
(2) a nonprofit subsidiary corporation established under IC 5-33-5-14.
The examination must comply with the uniform compliance guidelines, directives, and standards established by the state board of accounts. If an independent certified public accounting firm conducts an examination, the corporation shall submit a copy of the examination report to the state board of accounts not later than the next date on which the corporation is required to file its financial reports under IC 5-11-1-4.
As added by P.L.78-2019, SEC.5. Amended by P.L.68-2023, SEC.2.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 5-33-3-2
What does Indiana Code § 5-33-3-2 cover?
Section 5-33-3-2 ("Body corporate and politic; accounting compliance") 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 § 5-33-3-2?
A common citation format is "Indiana Code § 5-33-3-2" (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 § 5-33-3-2 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.