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2019 Indiana Code
Title 21. Higher Education
Article 30. State Educational Institutions: Donations; Gifts, Bequests, and Devises
Chapter 2. Gift Annuities; Restrictions on Gifts; Gifts for a Permanent Endowment
21-30-2-4. Security of payment of annuities
Universal Citation: IN Code § 21-30-2-4 (2019)
IC 21-30-2-4 Security of payment of annuities
Sec. 4. To secure the payment of annuities, the property comprised in the gift may be pledged, by way of mortgage or otherwise, to the annuitant or annuitants for the full period of the life of the annuity or annuities. The property pledged is the sole guarantee and the state shall not be obligated by the mortgage or other obligation.
[Pre-2007 Higher Education Recodification Citation: 4-24-2-4.]
As added by P.L.2-2007, SEC.271.
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