Sec. 14. "Private redevelopment corporation" means: (1) a corporation that is wholly owned or controlled by one (1) or more nonprofit colleges or universities; or (2) a corporation that operates on behalf of a nonprofit college or university on a nonprofit basis. [Pre-2007 Higher Education Recodification Citation: 20-12-15-1(b).] As added by P.L.2-2007, SEC.258.