Indiana Code 16-23-1-34. Gifts, donations, bequests, devises, and property in trust; acceptance and control
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Sec. 34. (a) The governing board may accept gifts, donations, bequests, and devises, and property in trust for the use and benefit of the hospital. The board shall recommend and the city fiscal body, by resolution or ordinance, must approve the terms and acceptance of any trust. If no trust is involved and there is an unconditional gift or donation to the hospital or to the city for hospital purposes, the board may accept the gift on behalf of the hospital without referring the gift to the city fiscal body.
(b) The governing board shall control all trust funds or property and other donations, gifts, bequests, or devises belonging to the hospital or made to the city for hospital purposes. The board shall carry out terms and conditions of a trust involving acts or proceedings in connection with the hospital.
[Pre-1993 Recodification Citations: 16-12.2-5-24; 16-12.2-5-28 part.]
As added by P.L.2-1993, SEC.6.
Terms Used In Indiana Code 16-23-1-34
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Property: includes personal and real property. See Indiana Code 1-1-4-5