CHAPTER 3. INDIANA EDUCATION SAVINGS AUTHORITY

IC 21-9-3
    Chapter 3. Indiana Education Savings Authority

IC 21-9-3-1
Creation of authority
    Sec. 1. The Indiana education savings authority is created.
As added by P.L.165-1996, SEC.1.

IC 21-9-3-2
Authority as body corporate and politic; not agency of state
    Sec. 2. (a) The authority is a body corporate and politic.
    (b) The authority:
        (1) is not an agency of the state; and
        (2) is an instrumentality of the state performing essentialgovernmental functions.
As added by P.L.165-1996, SEC.1.

IC 21-9-3-3
Establishment of education savings programs
    Sec. 3. The authority may establish any number of educationsavings programs.
As added by P.L.165-1996, SEC.1. Amended by P.L.85-2000, SEC.3;P.L.135-2002, SEC.17.

IC 21-9-3-4
Exemptions from state taxation
    Sec. 4. Because the management and operation of the educationsavings programs and all funds and accounts established under thisarticle constitute the performance of an essential public function, thefollowing are exempt from taxation by the state and by any politicalsubdivision of the state:
        (1) The authority's management and operations.
        (2) The authority's property and assets.
        (3) All property and assets held by or for the authority exceptindividual accounts.
        (4) The investment income and earnings (whether interest,gains, or dividends) on:
            (A) the authority's property and assets; and
            (B) all property and assets held by or for the authority;
        including all funds and accounts established under this articleexcept individual accounts.
As added by P.L.165-1996, SEC.1.

IC 21-9-3-5
Power to contract
    Sec. 5. The authority may contract with public or private entitiesor persons for the provision of all or any portion of the services theboard considers necessary for the management and operations of theauthority, including the education savings programs and all funds andaccounts of the authority.As added by P.L.165-1996, SEC.1.