Qualifications of lessor corporation

Sec. 4. A school corporation or corporations may enter into a lease or lease with option to purchase under this chapter only with: (1) a corporation organized under Indiana law or admitted to do business in Indiana; or (2) a religious organization (or the organization's agent) that is exempt from federal income taxation under Section 501 of the Internal Revenue Code. [Pre-2006 Recodification Citation: 21-5-12-2.] As added by P.L.2-2006, SEC.170.