Permissible provisions of lease; payment of taxes; insurance

Ind. Code § 20-47-3-7
in effect
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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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/20Fetched: 10/17/2026

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