Indiana Statutes
§ 23-14-64-3 — Payment and use of cash, securities, or other assets
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 14 CEMETERY ASSOCIATIONS·Ch. 64 Conveyance of Cemetery Association Land to
(a)If a cemetery association that conveys real
estate to a township under this chapter has endowment funds, cash,
securities, or other assets, the funds, cash, securities, or other assets
shall be paid over to the township trustee when the real estate owned
by the association is conveyed to the township.
(b)A township trustee who receives cash, securities, endowment
funds, or other assets under subsection (a) may use them only:
(1)to purchase additional land for the cemetery;
(2)to make permanent improvements to the cemetery; or
(3)for the upkeep and maintenance of the cemetery.
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Legislative History
As added by P.L.52-1997, SEC.38.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"