Title 21, TITLE 21. HIGHER EDUCATION

Sec. 3. ARTICLE II. THE COMMISSION. (a) The compacting states hereby create the Midwestern Higher Education Commission, hereinafter called the Commission. The Commission shall be a body corporate of each compacting state. The Commission shall have all the responsibilities, powers…

Sec. 4. ARTICLE III. POWERS AND DUTIES OF THE COMMISSION. (a) The Commission shall adopt a seal and suitable bylaws governing its management and operations. (b) Irrespective of the civil service, personnel, or other merit system laws of any of the compacting states, the Commissio…

Sec. 5. ARTICLE IV. ACTIVITIES OF THE COMMISSION. (a) The Commission shall collect data on the long-range effects of the Compact on higher education. By the end of the fourth year from the effective date of the Compact and every two (2) years thereafter, the Commission shall revi…

Sec. 6. ARTICLE V. FINANCE. (a) The money necessary to finance the general operations of the Commission not otherwise provided for in carrying forth its duties, responsibilities, and powers as stated in this chapter shall be appropriated to the Commission by the compacting states…

Sec. 7. ARTICLE VI. ELIGIBLE PARTIES AND ENTRY INTO FORCE. (a) The states of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin are eligible to become party to this Compact. Additional states are eligible if a…

Sec. 8. ARTICLE VII. WITHDRAWAL, DEFAULT, AND TERMINATION. (a) Any compacting state may withdraw from this Compact by enacting a statute repealing the Compact, but such withdrawal shall not become effective until two (2) years after the enactment of such statute. A withdrawing st…

Sec. 9. ARTICLE VIII. SEVERABILITY AND CONSTRUCTION. The provisions of this Compact entered into hereunder shall be severable and if any phrase, clause, sentence, or provision of this Compact is declared to be contrary to the constitution of any compacting state or of the United …

Sec. 1. This chapter applies notwithstanding any other law. This chapter shall be liberally construed. [Pre-2007 Higher Education Recodification Citation: 20-12-1.3-1.] As added by P.L.2-2007, SEC.270.

Sec. 2. This chapter shall not be construed as limiting or restricting the investment powers otherwise provided state educational institutions, including the power to adopt and implement investment policies under IC 21-29-2-1 and IC 21-29-2-2. [Pre-2007 Higher Education Recodific…

Sec. 3. (a) Subject to subsections (b) through (d), any state educational institution may enter into and modify, amend, or terminate one (1) or more swap agreements that the state educational institution determines to be necessary or desirable in connection with or incidental to …

Sec. 4. With regard to entering into any swap agreement, the state educational institution may enter into credit enhancement or liquidity agreements with payment, security, default, remedy, and other terms and conditions as determined by the state educational institution. [Pre-20…

Sec. 5. (a) This section does not apply in cases of bad faith or actual knowledge to the contrary by a party. (b) A party that enters into any swap agreement with a state educational institution may rely on a representation by that state educational institution that the state edu…

Sec. 1. This chapter applies to the boards of trustees of the following state educational institutions: (1) Indiana University. (2) Purdue University. (3) Indiana State University. (4) University of Southern Indiana. (5) Ball State University. [Pre-2007 Higher Education Recodific…

Sec. 2. The board of trustees of a state educational institution may accept gifts, bequests, and devises of personal and real property: (1) for the maintenance, use, or benefit of the state educational institution; or (2) to be administered for other public, charitable purposes f…

Sec. 3. The board of trustees of a state educational institution may receive, accept, hold, administer, and use any property transferred to the board of trustees by gift, bequest, or devise, with the terms, conditions, obligations, liabilities, and burdens imposed on the gift, be…

Sec. 4. (a) Subject to subsection (b), if a gift, devise, or bequest is made for the purpose of providing an annuity, the gift, devise, or bequest may be accepted by the board of trustees on condition that the state educational institution: (1) pay to the donor, for the life of t…

Sec. 5. (a) To secure the payment of annuities, granted under this chapter, the property comprised in the gift, devise, or bequest may be pledged by way of mortgage or otherwise to the annuitant or annuitants for the full period of the life of the annuity or annuities. (b) Proper…

Sec. 1. The board of trustees of Indiana University shall annually appoint a committee from the members of the board of trustees to examine Indiana University buildings and grounds. The committee shall report the kind and cost of repairs, if any are needed. A member of the facult…

Sec. 2. The board of trustees of Vincennes University shall visit and inspect Vincennes University. [Pre-2007 Higher Education Recodification Citation: 23-13-18-8(6).] As added by P.L.2-2007, SEC.272.

Sec. 1. A state educational institution with power to issue bonds may sell bonds at public or negotiated sale: (1) for the price or prices; (2) in the manner; and (3) at the time or times; determined by the state educational institution. [Pre-2007 Higher Education Recodification …

Sec. 2. A state educational institution may not sell bonds: (1) for less than ninety percent (90%); or (2) with an underwriter's discount that exceeds three percent (3%); of the par value of the bonds. [Pre-2007 Higher Education Recodification Citation: 4-1-5-1(a) part.] As added…

Sec. 3. (a) A state educational institution that determines to sell bonds at public sale shall give notice under subsection (b) or (c). (b) A state educational institution that gives notice under this subsection shall: (1) publish the notice once each week for two (2) weeks in: (…

Sec. 4. (a) This section applies when notice is given under section 3 of this chapter for a public sale. (b) The treasurer of the state educational institution: (1) shall cause each person furnishing the information required under section 3(c) of this chapter to be notified of th…

Sec. 5. A state educational institution shall award bonds sold at public sale to the bidder offering the lowest interest cost to be determined by: (1) computing the total interest on the bonds from the date of the sale to the date of maturity; and (2) either: (A) deducting from t…

Sec. 6. If no acceptable bid is received at the time fixed for sale of the bonds at a public sale, the state educational institution: (1) may continue the sale from day to day for a period not to exceed thirty (30) days without readvertising; and (2) may not accept a bid during t…

Sec. 7. (a) As used in this section, "check" includes electronic transfer by wire transfer or other similar means. (b) A state educational institution may not: (1) accept a bid for the bonds, other than a bid submitted by the federal government or any agency of the federal govern…

Sec. 8. Before the delivery of the bonds to a successful bidder at a public sale, other than the federal government or any agency of the federal government, the bidder shall cause to be filed with the secretary of state before the published date of sale a sworn affidavit that: (1…

Sec. 1. This chapter applies to all state educational institutions. [Pre-2007 Higher Education Recodification Citation: 20-12-5.5-1 part.] As added by P.L.2-2007, SEC.274.

Sec. 10. The general assembly may appropriate fee replacement money for the replacement of student fees dedicated to pay: (1) the principal and interest costs of bonds as approved by the general assembly; and (2) lease-purchase costs. [Pre-2007 Higher Education Recodification Cit…

Sec. 2. This chapter applies to the following property: (1) Land. (2) Buildings. (3) Facilities. (4) Equipment. [2007 Higher Education Recodification Citation: New.] As added by P.L.2-2007, SEC.274.

commission Sec. 3. (a) The commission for higher education shall complete a review of a project approved or authorized by the general assembly. (b) This subsection does not apply to a project approved or authorized by the general assembly for which a state appropriation will be u…

Sec. 4. (a) The budget agency may refer to the budget committee budgetary and fiscal matters under this chapter for which it would like an advisory recommendation. (b) If a matter is referred to the budget committee, the budget committee: (1) shall hold hearings; (2) may exercise…

Sec. 5. (a) Subject to this section, in addition to projects authorized by the general assembly, the board of trustees of a state educational institution may engage in a project to: (1) construct buildings or facilities of a cost greater than two million dollars ($2,000,000); or …

projects Sec. 6. (a) Subject to subsection (b), in addition to projects authorized by the general assembly, the board of trustees of a state educational institution may engage in a repair and rehabilitation project for which: (1) the cost of the project exceeds two million dollar…

Sec. 8. The cost of any project authorized under this chapter includes the following: (1) The estimated cost of architectural, engineering, and consulting services. (2) The estimated cost of the construction and any repair and rehabilitation project. (3) The purchase price of any…

Sec. 9. To pay the cost of a project authorized under this chapter, the following funds may be used: (1) Funds appropriated in any state fiscal year for the project by the general assembly, subject to allocation of the funds by the budget agency, with approval of the governor. (2…

building facilities Sec. 1. The board of trustees of a state educational institution may, as the board of trustees finds necessary, acquire, erect, construct, reconstruct, improve, rehabilitate, remodel, repair, complete, extend, enlarge, equip, furnish, and operate building faci…

Sec. 2. A building facility may be located at any place within Indiana at which the board of trustees of a state educational institution determines the need exists for the building facilities. [Pre-2007 Higher Education Recodification Citation: 20-12-6-1 part.] As added by P.L.2-…

equipment Sec. 3. The board of trustees of a state educational institution may acquire, erect, construct, reconstruct, improve, rehabilitate, remodel, repair, complete, extend, enlarge, furnish, and operate any equipment that the board of trustees of a state educational instituti…

Sec. 4. (a) The board of trustees of a state educational institution may: (1) acquire, under this article or any other applicable law, by: (A) purchase (for cash or on contract); (B) lease or sublease for a period not exceeding forty (40) years that the board of trustees approves…

improve real property Sec. 4.5. Notwithstanding section 4(a)(1)(B) of this chapter, the board of trustees of a state educational institution may acquire and improve, under this article or any other applicable law, real property (improved or unimproved) by lease or sublease for a …

Sec. 5. Except as otherwise provided in IC 21-34-4, title to all property acquired, including improvements on acquired property, must be taken and held by and in the name of the board of trustees in its corporate capacity for the purposes of this article. The board of trustees of…

Sec. 6. (a) A lessor leasing fifty percent (50%) or more of a building facility or building facilities: (1) to a state educational institution or to more than one (1) state educational institution jointly pursuant to sections 4 and 5 of this chapter for a term of five (5) years o…

Sec. 7. (a) If the board of trustees of a state educational institution determines to locate a building facility upon real estate, the title to which is in the name of the state of Indiana for the use and benefit of: (1) the board of trustees of the state educational institution;…

Sec. 1. The commission, under IC 21-18-6-1, shall administer the following: (1) This article. (2) IC 21-12. (3) IC 21-13. (4) IC 21-14. (5) IC 21-16. As added by P.L.107-2012, SEC.58.

Sec. 1. (a) The board of directors of the authority is established. The board consists of the following: (1) The following four (4) ex officio members or directors: (A) The treasurer of state. (B) The secretary of education. (C) The Indiana commissioner for higher education. (D) …

Sec. 10. A manager or another person designated by resolution of the authority: (1) shall keep a record of the proceedings of the authority; (2) shall be custodian of: (A) all books, documents, and papers filed with the authority; and (B) the minute book or journal of the authori…

Sec. 11. Before the adoption and implementation of any education savings program, the: (1) chairman; (2) vice chairman; (3) manager; and (4) any officer elected by the authority or member of the authority authorized by resolution to handle funds or sign checks; shall execute a su…

Sec. 12. The authority shall do the following: (1) Provide the board and each member, officer, employee, consultant, counsel, and agent of the authority or the board a defense in a suit arising out of the performance of duties for or on behalf of the authority or the board, if th…

Sec. 13. Notwithstanding any other law, it is not a conflict of interest or violation of any other law for a person to serve as a member of the authority. However, a member shall disclose a conflict of interest relating to actions of the authority as required and in a manner prov…