Sec. 6. Except as provided in section 7 of this chapter, the value of the real estate to be sold and conveyed under this chapter shall be determined by two (2) disinterested appraisers appointed by the board of trustees of the state educational institution. Real estate may be sold or conveyed for less than the appraised value if the board of trustees of a state educational institution approves a resolution that authorizes the sale or conveyance of real estate for less than the appraised value.
[Pre-2007 Higher Education Recodification Citation: 20-12-11-2(b).]
As added by P.L.2-2007, SEC.277. Amended by P.L.217-2017, SEC.149; P.L.178-2018, SEC.14.
Structure Indiana Code
Article 36. State Educational Institutions: Disposition of Property
Chapter 3. Sale of Real Estate
21-36-3-1. Applicability of Chapter
21-36-3-2. Supplemental Effect of Chapter
21-36-3-3. Authority to Sell or Convey Real Property
21-36-3-4. Sale or Conveyance of Property Received by Gift or Bequest
21-36-3-5. Determination on Disposition of Property; Resolution
21-36-3-6. Real Property Value Determination by Appraisal