(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.Formerly: Acts 1875, c.4, s.1. As amended by P.L.12-1996, SEC.1; P.L.215-2016, SEC.65.
Indiana Legal Code