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2017 Indiana Code
TITLE 20. Education
ARTICLE 26. SCHOOL CORPORATIONS: GENERAL ADMINISTRATIVE PROVISIONS
CHAPTER 7. Property and Eminent Domain
20-26-7-7. Unconditional devise or bequest
Universal Citation: IN Code § 20-26-7-7 (2017)
IC 20-26-7-7 Unconditional devise or bequest
Sec. 7. If a common school corporation has acquired or acquires any personal property or real estate by gift, devise, or bequest concerning which the donor or testator, at the time of making the gift, bequest, or devise, does not include conditions or directions concerning the gift, bequest, or devise inconsistent with this section, the principal of the gifts, devises, and bequests is inviolate, but the interest, rents, incomes, issues, and profits thereof may be expended by the school corporation.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5-20-3.]
As added by P.L.1-2005, SEC.10. Amended by P.L.233-2015, SEC.109.
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