Indiana § 23-0.5-8-2 Right to make charitable contributions

Indiana Statutes

§ 23-0.5-8-2 — Right to make charitable contributions

Indiana § 23-0.5-8-2

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 0.5UNIFORM BUSINESS ORGANIZATIONS CODE

Ch. 8Miscellaneous Provisions

This text of Indiana § 23-0.5-8-2 (Right to make charitable contributions) 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 § 23-0.5-8-2 (2026).

Text

Every railroad company, rural loan and saving
association, credit union, or corporation organized for the conduct of
a banking, insurance, surety, trust, safe deposit, mortgage guarantee, or
building and loan business organized under any law of Indiana may,
subject to any restrictions contained in the articles of incorporation,
make contributions out of the gross income of the corporation to such
entities, and for any one (1) or more of such purposes, as the board of
directors may reasonably believe will constitute deductions from gross
income in computing the net income of the corporation subject to tax,
under the Internal Revenue Code.

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Every railroad company, rural loan and saving
association, credit union, or corporation organized for the conduct of
a banking, insurance, surety, trust, safe deposit, mortgage guarantee, or
building and loan business organized under any law of Indiana may,
subject to any restrictions contained in the articles of incorporation,
make contributions out of the gross income of the corporation to such
entities, and for any one (1) or more of such purposes, as the board of
directors may reasonably believe will constitute deductions from gross
income in computing the net income of the corporation subject to tax,
under the Internal Revenue Code.