2017 Indiana Code
TITLE 30. Trusts and Fiduciaries
CHAPTER 12. Uniform Management of Institutional Funds Act
30-2-12-5. "Institution" defined

Universal Citation: IN Code § 30-2-12-5 (2017)
IC 30-2-12-5 "Institution" defined

     Sec. 5. As used in this chapter, "institution" means any of the following:

(1) A person, other than an individual, that is organized and operated exclusively for charitable purposes.

(2) The state, including any agency or instrumentality of the state, or a unit of local government to the extent that the state or unit holds funds exclusively for charitable purposes.

(3) A trust that has only charitable interests, including a trust:

(A) that previously had both charitable and noncharitable interests; and

(B) the noncharitable interests of which were previously terminated.

As added by P.L.268-1989, SEC.1. Amended by P.L.199-1991, SEC.1; P.L.266-1995, SEC.2; P.L.2-2007, SEC.356; P.L.226-2007, SEC.11; P.L.3-2008, SEC.227.


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