Indiana § 31-25-2-20.1 Gift, devise, or bequest of personal property; investment of money;
child trust clearance account; commingling prohibited

Indiana Statutes

§ 31-25-2-20.1 — Gift, devise, or bequest of personal property; investment of money; child trust clearance account; commingling prohibited

Indiana § 31-25-2-20.1

Art. 25CHILD SERVICES: ADMINISTRATION

Ch. 2General Duties of the Department of Child Services

This text of Indiana § 31-25-2-20.1 (Gift, devise, or bequest of personal property; investment of money; child trust clearance account; commingling prohibited) 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 § 31-25-2-20.1 (2026).

Text

1.

(a)The department may receive and administer a gift, devise, or bequest of personal property, including the income from real property, that is:

(1)to or for the benefit of a home or an institution in which formerly abused or neglected children are cared for under the supervision of the department; or

(2)for the benefit of children who are committed to the care or supervision of the department.

(b)The department may invest or reinvest money received under this section in the same types of securities in which life insurance companies are authorized by law to invest the money of the life insurance companies.

(c)The following shall be kept in the child trust clearance account established under section 20.2 of this chapter and may not be commingled with any other fund or account or with

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1. (a) The department may receive and
administer a gift, devise, or bequest of personal property, including the
income from real property, that is:
(1) to or for the benefit of a home or an institution in which
formerly abused or neglected children are cared for under the
supervision of the department; or
(2) for the benefit of children who are committed to the care or
supervision of the department.
(b) The department may invest or reinvest money received under
this section in the same types of securities in which life insurance
companies are authorized by law to invest the money of the life
insurance companies.
(c) The following shall be kept in the child trust clearance account
established under section 20.2 of this chapter and may not be
commingled with any other fund or account or with money received
from taxation:
(1) All money received by the department under this section.
(2) All money, proceeds, or income realized from real property or
other investments.
(d) Subject to the approval of the director, money described in
subsection (c)(1) or (c)(2) may be expended by the department in any
manner consistent with the purposes of the child trust clearance
account and with the intention of the donor.