Money gifts

Ind. Code § 4-24-2-7
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
Sec. 7. 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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/4Fetched: 10/17/2026

Starting a business in Indiana? Indiana LLC guide: costs and requirements