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2019 Indiana Code
Title 10. Public Safety
Article 18. War Memorials
Chapter 7. Memorial Corporations
10-18-7-9. Perpetual existence; stock and property not taxable
Universal Citation: IN Code § 10-18-7-9 (2019)
IC 10-18-7-9 Perpetual existence; stock and property not taxable
Sec. 9. (a) The existence of a memorial corporation organized under this chapter is perpetual.
(b) The permanent fund of a memorial corporation is perpetual and may not be reduced for any purpose. The income from the investment of a memorial corporation's permanent fund may be used only for purposes allowed in this chapter.
(c) The stock and property of a memorial corporation is nontaxable.
[Pre-2003 Recodification Citation: 10-7-12-9.]
As added by P.L.2-2003, SEC.9.
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