A lease authorized by section 3 of this chapter must provide that the corporation will do the following:

1. (1) Make all repairs to the property leased.
2. (2) Keep the property adequately insured.

3. (3) Maintain the property in as good condition as the property is in at the time of the execution of the lease, natural wear and tear excepted.

   [Pre-1993 Recodification Citation: 16-12.2-2-4.]

As added by P.L.2-1993, SEC.6.