§ 15-14-1-7

(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.[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.