2017 Indiana Code
TITLE 20. Education
ARTICLE 26. SCHOOL CORPORATIONS: GENERAL ADMINISTRATIVE PROVISIONS
CHAPTER 7. Property and Eminent Domain
20-26-7-9. Purpose and construction of statutes concerning property acquired by gift or bequest
Sec. 9. (a) It is the main purpose of this chapter that the identity of the principal of gifts, bequests, and devises to the state's public schools may not be lost and that the income from investment of the gifts, bequests, and devises shall be used in giving students the public education and library advantages that could not be enjoyed if only the school and library revenue and income provided by law were available.
(b) Sections 6 through 9 of this chapter may not be construed as a limitation against the investment and reinvestment either by the school corporation itself or the trustees appointed under section 8 of this chapter, as the safety of the fund or the best interests of the recipient school corporation require.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5-20-5.]
As added by P.L.1-2005, SEC.10.
