§ 12-19-1-15 — Gifts, devises, and bequests of personal property; investment; special fund; expenditures

(a) The division may receive and administer
a gift, devise, or bequest of personal property, including the income
from real property, that is to or for the benefit of an individual
receiving payments or services through a county office.
(b) The division shall establish a special fund or an account in a
trust fund for the money received under this section. The expenses of
administering the fund or account shall be paid from money in the fund
or account. The money may not be commingled with money received
from taxation.
(c) The treasurer of state shall invest the money in the fund or
account not currently needed to meet the obligations of the fund or
account in the same manner as other public money may be invested.
Interest that accrues from these investments shall be deposited in the
fund or account.
(d) Money in the fund or account at the end of a state fiscal year
does not revert to the state general fund.
(e) Subject to the approval of the judge or the court of the county
having probate jurisdiction, money in the fund or account may be
expended by the division in any manner consistent with the purposes
of the fund or account created under this section and with the intention
of the donor.
[Pre-1992 Revision Citation: 12-1-3-6(c).]

Legislative History

As added by P.L.2-1992, SEC.13. Amended by P.L.4-1993, SEC.167; P.L.5-1993, SEC.180; P.L.146-2008, SEC.402; P.L.44-2009, SEC.23.