Ind. Code § 15-14-1-7

Current through P.L. 171-2024

Section 15-14-1-7 - Restrictions on property ownership

(a) The amount of real estate that a corporation incorporated under this chapter may purchase or own may not exceed:

(1) one hundred sixty (160) acres; and

(2) five hundred thousand dollars ($500,000) in value.

(b) A corporation incorporated under this chapter may sell any land that it possesses or may possess.

IC 15-14-1-7

Pre-2008 Recodification Citations: subsection (a) formerly 15-1-2-6 part; subsection (b) formerly 15-1-2-10.

As added by P.L. 2-2008, SEC.5.