"Independent postsecondary educational institution" defined

Sec. 4. As used in this chapter, "independent postsecondary educational institution" refers to an independent, degree granting college or university that is: (1) accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools; (2) chartered in Indiana; and (3) operated as a nonprofit entity under Section 501(c)(3) of the Internal Revenue Code. As added by P.L.38-2006, SEC.1. Amended by P.L.2-2007, SEC.352.