Indiana Statutes
§ 4-24-2-7 — Money gifts
Indiana·Art. 24 INSTITUTIONS─GENERAL PROVISIONS·Ch. 2 Gifts; Acceptance and Return of Annuity to Donor
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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