341 chapters · 3,670 sections in this title.
Ind. Code § 8-25-8-3 Foundation established; purpose
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Sec. 3. The board shall establish a foundation that is organized as a nonprofit corporation that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code to solicit and accept private funding, gifts, donations, bequests, devises, and contributio…
Ind. Code § 8-25-8-4 Use of money collected by foundation
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Sec. 4. A foundation established under section 3 of this chapter: (1) shall use money received under section 3 of this chapter to: (A) fund in part a public transportation project authorized under this article as required by IC 8-25-3-6(a); and (B) carry out the purposes and prog…
Ind. Code § 8-25-8-5 Governance of foundation
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Sec. 5. The foundation established under section 3 of this chapter is governed by a board of directors consisting of at least seven (7) voting members appointed by the board. As added by P.L.153-2014, SEC.17.
Ind. Code § 8-25-8-6 Terms of foundation board members
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Sec. 6. The members appointed under section 5 of this chapter shall be appointed for a term of three (3) years but may be removed by the board for cause. As added by P.L.153-2014, SEC.17.