Sec. 5. An agreement:
(1) must provide for the following:
(A) Its duration.
(B) Its purpose.
(C) The manner of:
(i) financing, staffing, and supplying the joint undertaking; and
(ii) establishing and maintaining a budget for the joint undertaking.
(D) The methods that may be employed to:
(i) accomplish the partial or complete termination of the agreement; and
(ii) dispose of property upon partial or complete termination.
(E) Administration through a separate legal entity.
(F) With respect to a separate legal entity:
(i) the nature;
(ii) the organization;
(iii) the composition; and
(iv) the powers;
of the separate legal entity; and
(2) may provide for any other appropriate matters.
[Pre-2007 Higher Education Recodification Citation: 20-12-65-4(a).]
As added by P.L.2-2007, SEC.269.