§ 21-30-2-7 — Trusts; management

Indiana § 21-30-2-7

• Jurisdiction: Indiana
• Title 21: HIGHER EDUCATION
• Art. 30: STATE EDUCATIONAL INSTITUTIONS:
• Ch. 2: Gift Annuities; Restrictions on Gifts; Gifts for a

Text

All gifts of money, and all money realized from
real and personal property made under this chapter to permanently
endow:
(1) a state educational institution; or
(2) a chair of learning or department in a state educational
institution;
shall be taken in charge by the state of Indiana, as a trust, and managed
in all respects the same as the common school fund of the state is
managed, and the proceeds arising therefrom shall be paid to the state
educational institution being endowed for the purposes provided by the
terms of the gift.
[Pre-2007 Higher Education Recodification Citation:
4-24-2-7 part.]

Legislative History

As added by P.L.2-2007, SEC.271.