Indiana § 14-12-1-10 Powers of foundation

Indiana Statutes

§ 14-12-1-10 — Powers of foundation

Indiana § 14-12-1-10

Art. 12STATE RESOURCE DEVELOPMENT

Ch. 1Indiana Natural Resources Foundation

This text of Indiana § 14-12-1-10 (Powers of foundation) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 14-12-1-10 (2026).

Text

The foundation may do the following:

(1)Adopt bylaws for the regulation of the foundation's affairs and the conduct of the foundation's business.

(2)Adopt an official seal, which may not be the seal of the state.

(3)Maintain a principal office and other offices the foundation designates.

(4)Sue and be sued in the name and style of "Indiana Natural Resources Foundation", with service of process being made to the chairman of the foundation by leaving a copy at the principal office of the foundation or at the residence of the chairman if the foundation has no principal office.

(5)To exercise the powers or perform the duties of the foundation, do the following:

(A)Acquire by any means except eminent domain a right or an interest in or upon real or personal property of any kind or nature.

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The foundation may do the following:
(1) Adopt bylaws for the regulation of the foundation's affairs and
the conduct of the foundation's business.
(2) Adopt an official seal, which may not be the seal of the state.
(3) Maintain a principal office and other offices the foundation
designates.
(4) Sue and be sued in the name and style of "Indiana Natural
Resources Foundation", with service of process being made to the
chairman of the foundation by leaving a copy at the principal
office of the foundation or at the residence of the chairman if the
foundation has no principal office.
(5) To exercise the powers or perform the duties of the
foundation, do the following:
(A) Acquire by any means except eminent domain a right or an
interest in or upon real or personal property of any kind or
nature. The foundation shall hold the legal title to property
acquired in the name of the foundation.
(B) Dispose of a right or an interest in real property.
(6) Make and enter into all contracts, undertakings, and
agreements necessary or incidental to the performance of the
duties and the execution of the powers of the foundation under
this chapter.
(7) Employ an executive director and other employees that are
necessary in the foundation's judgment and fix their
compensation.
(8) Conduct studies of the feasibility of certain natural resource
projects and facilities.
(9) Receive and accept from any person grants for or in aid of the
acquisition, construction, improvement, or development of any
part of the projects of the foundation and receive and accept aid
or contributions from any source of money, property, labor, or
other things of value, to be held, used, applied, or disposed of
only for the purposes consistent with the purposes of this chapter
for which the grants and contributions may be made.
(10) Hold, use, administer, and expend money that may be
acquired by the foundation.
(11) Do all acts and things necessary or proper to carry out the
powers expressly granted in this chapter.
[Pre-1995 Recodification Citation: 14-3-17-12.]