(a) The commission may:

1. (1) accept and use gifts, grants, and contributions from any public or private source, under terms and conditions which the commission deems necessary and desirable;
2. (2) sue and be sued;
3. (3) enter into contracts and agreements;
4. (4) make rules and regulations necessary for the conduct of its business and the accomplishment of its purposes;
5. (5) receive and approve, alter, or reject requests and proposals for funding by corporations qualified under clause (6) of this section;
6. (6) after its approval of a proposal, transfer money, quarterly or less frequently, from the fund required by section 7 of this chapter, to any Indiana nonprofit corporation for the purpose of promotion and encouragement in the county of conventions, trade shows, visitors, or special events, including any related activity authorized by ordinance adopted by the county legislative body, such as the acquisition, construction, improvement, maintenance, financing, or refinancing of land, facilities, capital improvements, or equipment for conventions, trade shows, visitors, or special events; and
7. (7) require financial or other reports from any corporation that receives funds under this chapter.

(b) A majority of the members of the commission shall constitute a quorum for the transaction of business, and the concurrence of a majority of the members of the commission shall be necessary to authorize any action.

As added by Acts 1981, P.L.102, SEC.1. Amended by P.L.69-1997, SEC.2.