Sec. 5. A state educational institution may be a member of a postsecondary SEI affiliated educational institution if:
(1) the postsecondary SEI affiliated educational institution is a public benefit corporation (as defined in IC 23-17-2-23);
(2) the postsecondary SEI affiliated educational institution is controlled by the state educational institution;
(3) in the judgment of the board of trustees, it is in the best interest and consistent with the mission of the state educational institution; and
(4) any contributions or other financial support made to the postsecondary SEI affiliated educational institution by the state educational institution consist solely of eligible property.
As added by P.L.217-2017, SEC.148.
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