{"data":{"id":"us-in/ic-4-10-14-1","jurisdiction":"us-in","citation":"IC 4-10-14-1","heading":"Loans; expenditures for improvements; authorization by act of general assembly; violations","body":"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:\n(1) borrow money upon the credit of the state;\n(2) contract any indebtedness on the credit of the state; or\n(3) make expenditures for improvements for an institution or correctional facility in any way;\nunless the loan or expenditure of money is first authorized by an act of the general assembly.\n(b) A trustee who violates this section:\n(1) commits a Class C infraction; and\n(2) forfeits the trustee's office.","path":["TITLE 4. STATE OFFICES AND ADMINISTRATION","ARTICLE 10. STATE FUNDS GENERALLY","Chapter 14. State Institutions─Borrowing Money and Expenditures Without Appropriation Prohibited and Penalized"],"source_url":"https://iga.in.gov/ic/2026/Title_4.html#4-10-14-1","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-30T06:26:00Z","sha256":"c3a584f8e1c19ea2438f798040a034dbd201f320e7656dba456305633e9d9e30","source_id":"us-in","stale":false,"prev":"us-in/ic-4-10-13-7","next":"us-in/ic-4-10-14-2"},"notice":"GroundRules: Original legal text. Not legal advice."}