§ 12-11-14-13 — Accepting of gifts and property by authority

Indiana § 12-11-14-13

• Jurisdiction: Indiana
• Art. 11: SERVICES FOR INDIVIDUALS WITH
• Ch. 14: Achieving a Better Life Experience (ABLE) Program

Text

(a) The authority may accept gifts,
bequests, donations, and devises of personal and real property:
(1) as trustees for the maintenance, use, or benefit of the
authority, the qualified ABLE program, or the endowment fund;
or
(2) to be administered for other public or charitable purposes for
the use or benefit of ABLE account owners or ABLE account
beneficiaries.
(b) The authority may receive, accept, hold, administer, and use any
property transferred to the authority by gift, bequest, donation, or
devise in accordance with the terms, conditions, obligations, liabilities,
and burdens imposed on the gift, bequest, donation, or devise if, in the
judgment of the board, the action is in the best interest of the authority,
the qualified ABLE program, the endowment fund, ABLE account
owners, ABLE account contributors, or ABLE account beneficiaries,
as applicable.
(c) The authority may, if not inconsistent with the terms and
conditions of a gift of real property:
(1) sell, convey, or otherwise dispose of the real property; and
(2) invest, reinvest, or use the proceeds as, in the judgment of the
board, is of the greatest benefit to the authority, the qualified
ABLE program, the endowment fund, ABLE account
beneficiaries, and ABLE account owners.

Legislative History

As added by P.L.12-2016, SEC.8.