Ind. Code § 4-10-14-1
Loans; expenditures for improvements; authorization by act of general assembly; violations
As amended by P.L.12-1996, SEC.1; P.L.215-2016, SEC.65.
(a) A trustee on a board of trustees of any benevolent, scientific, or educational institution, or any correctional facility of the state, shall not:
- (1) borrow money upon the credit of the state;
- (2) contract any indebtedness on the credit of the state; or
(3) make expenditures for improvements for an institution or correctional facility in any way;
unless the loan or expenditure of money is first authorized by an act of the general assembly.
(b) A trustee who violates this section:
- (1) commits a Class C infraction; and
- (2) forfeits the trustee's office.
As amended by P.L.12-1996, SEC.1; P.L.215-2016, SEC.65.