Indiana § 21-30-5-5 Security of payment of annuities

Indiana Statutes

§ 21-30-5-5 — Security of payment of annuities

Indiana·Title 21 HIGHER EDUCATION·Art. 30 STATE EDUCATIONAL INSTITUTIONS:·Ch. 5 Gifts, Bequests, and Devises; Vincennes University

To secure the payment of annuities granted
under section 4 of this chapter, the property comprised in the gift,
devise, or bequest may be pledged by way of mortgage or otherwise to
the annuitant or annuitants for the full period of the life of the annuity
or annuities. The property pledged is the sole guarantee, and the donee
may not be obligated in any other manner unless by written agreement
of the donee.
[Pre-2007 Higher Education Recodification Citation:
23-13-18-25(c).]

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To secure the payment of annuities granted
under section 4 of this chapter, the property comprised in the gift,
devise, or bequest may be pledged by way of mortgage or otherwise to
the annuitant or annuitants for the full period of the life of the annuity
or annuities. The property pledged is the sole guarantee, and the donee
may not be obligated in any other manner unless by written agreement
of the donee.
[Pre-2007 Higher Education Recodification Citation:
23-13-18-25(c).]

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