Indiana § 4-24-2-7 Money gifts

Indiana Statutes

§ 4-24-2-7 — Money gifts

Indiana § 4-24-2-7

Art. 24INSTITUTIONS─GENERAL PROVISIONS

Ch. 2Gifts; Acceptance and Return of Annuity to Donor

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Bluebook

Ind. Code § 4-24-2-7 (2026).

Text

All gifts of money, and all money realized from
real and personal property, made under this chapter, to permanently
endow any institution described in section 1 of this chapter shall be
taken in charge by the state, as a trust, and managed in all respects the
same as the common school fund of the state is managed. The proceeds
arising from a permanent endowment made under this chapter shall be
paid to the institution being endowed for the purposes provided by the
terms of the gift.
[Pre-2007 Higher Education Recodification Citation:
4-24-2-7 part.]
Formerly: Acts 1917, c.20, s.7. As amended by P.L.5-1984,
SEC.185; P.L.2-2007, SEC.60.

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All gifts of money, and all money realized from
real and personal property, made under this chapter, to permanently
endow any institution described in section 1 of this chapter shall be
taken in charge by the state, as a trust, and managed in all respects the
same as the common school fund of the state is managed. The proceeds
arising from a permanent endowment made under this chapter shall be
paid to the institution being endowed for the purposes provided by the
terms of the gift.
[Pre-2007 Higher Education Recodification Citation:
4-24-2-7 part.]
Formerly: Acts 1917, c.20, s.7. As amended by P.L.5-1984,
SEC.185; P.L.2-2007, SEC.60.