Indiana Code
Chapter 3. Private Holding Companies
20-47-3-7. Permissible Provisions of Lease; Payment of Taxes; Insurance

Sec. 7. A lease entered into under this chapter may provide that as a part of the lease rental for the school building or buildings the lessee or lessees shall:
(1) pay all taxes and assessments levied against or on account of the leased property;
(2) maintain insurance on the leased property for the benefit of the lessor corporation; and
(3) assume all responsibilities for repair and alterations of the leased property during the term of the lease.
[Pre-2006 Recodification Citation: 21-5-12-5.]
As added by P.L.2-2006, SEC.170.

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