§ 21-18.5-4-5 — Procedures concerning gifts, grants, devises, and bequests

Indiana § 21-18.5-4-5

• Jurisdiction: Indiana
• Title 21: HIGHER EDUCATION
• Art. 18.5: ADMINISTRATION OF HIGHER EDUCATION
• Ch. 4: Administration of Awards

Text

For purposes of administering this chapter,
if the commission receives an offer of a gift, grant, devise, or bequest,
the commission may accept a stipulation on the use of the donated
funds. In this case, the requirements under IC 21-12-1.7-3 concerning
higher education awards and freedom of choice grants do not apply.
Before accepting a gift, grant, devise, or bequest, the commission shall
determine that the purposes for which the donor proposes to provide
funds are:
(1) lawful;
(2) in the state's best interests; and
(3) generally consistent with the commission's programs and
purposes.
If the commission agrees to a stipulation on the use of donated funds,
the commission and the donor, subject to approval by the budget
agency and the governor or the governor's designee, shall execute an
agreement.

Legislative History

As added by P.L.107-2012, SEC.58. Amended by P.L.281-2013, SEC.34; P.L.85-2017, SEC.89.