A school corporation, school corporations, or the public education corporation may enter into a lease or lease with option to purchase under this chapter only with:

1. (1) a corporation organized under Indiana law or admitted to do business in Indiana; or

2. (2) a religious organization (or the organization's agent) that is exempt from federal income taxation under Section 501 of the Internal Revenue Code.

   [Pre-2006 Recodification Citation: 21-5-12-2.]

As added by P.L.2-2006, SEC.170. Amended by P.L.101-2026, SEC.44.