Indiana Statutes
§ 30-2-12-6 — "Institutional fund" defined
As used in this chapter, "institutional fund" means a fund held by an institution exclusively for charitable purposes. The term does not include the following:
(1)A fund held for an institution by a trustee that is not an
institution.
(2)A fund in which a beneficiary that is not an institution has an
interest, other than possible rights that could arise upon violation
or failure of the purposes of the fund.
(3)Assets held by an institution primarily for charitable purposes
and not primarily for investment purposes.
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Legislative History
As added by P.L.268-1989, SEC.1. Amended by P.L.266-1995,
SEC.3; P.L.226-2007, SEC.12.
Nearby Sections
15
§ 30-1-2-1
Stocks; bonds; securities§ 30-1-2-2
Securities not listed; terms§ 30-1-4-1
Eligible investments§ 30-1-5-1
Securities; insurance§ 30-1-6-3
Bidding; report; hearing; endorsement§ 30-1-6-5
Acts conclusive; disaffirmance denied§ 30-1-7-2
Petition to execute options; prospectus§ 30-1-7-3
Hearing; order of court§ 30-1-7-4
Binding and conclusive; disaffirmance§ 30-1-8-1
Definitions