Indiana § 30-3-4-2 Determination by board of commissioners to relinquish trust

Indiana Statutes

§ 30-3-4-2 — Determination by board of commissioners to relinquish trust

Indiana·Art. 3 MISCELLANEOUS PROVISIONS·Ch. 4 Relinquishment of Certain Charitable Trusts

If the board of commissioners determines:

(1)that the amount of money or property given, devised, or bequeathed is or will be inadequate to carry out the trust without an additional appropriation from the county; and

(2)that the county will not be substantially benefited by the administration of the trust; then the board shall relinquish the trust. The title to any money and property so given, devised, or bequeathed then vests in the legal heirs of the donor or testator according to the provisions of IC 29 concerning intestate succession. [Pre-Local Government Recodification Citation: 17-2-19-1 part.] As added by Acts 1980, P.L.8, SEC.143.

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If the board of commissioners determines:
(1) that the amount of money or property given, devised, or
bequeathed is or will be inadequate to carry out the trust without
an additional appropriation from the county; and
(2) that the county will not be substantially benefited by the
administration of the trust;
then the board shall relinquish the trust. The title to any money and
property so given, devised, or bequeathed then vests in the legal heirs
of the donor or testator according to the provisions of IC 29 concerning
intestate succession.
[Pre-Local Government Recodification Citation: 17-2-19-1
part.]
As added by Acts 1980, P.L.8, SEC.143.

Indiana § 30-3-4-2 (Determination by board of commissioners to relinquish trust) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.