"Private redevelopment corporation" means:

1. (1) a corporation that is wholly owned or controlled by one (1) or more nonprofit colleges or universities; or

2. (2) a corporation that operates on behalf of a nonprofit college or university on a nonprofit basis.

   [Pre-2007 Higher Education Recodification Citation: 20-12-15-1(b).]

As added by P.L.2-2007, SEC.258.