IC 4-10-14-1: Loans; expenditures for improvements; authorization by act of general assembly; violations

Sec. 1. (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.