Indiana Code 12-30-7-26. Health center board of managers; grants, devises, gifts, bequests, and donations
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Sec. 26. (a) The board of managers shall accept and hold in trust for the health center the following:
(2) A gift or bequest of money or other property.
(1) A grant or devise of real property.
Terms Used In Indiana Code 12-30-7-26
- Bequest: Property gifted by will.
- Devise: To gift property by will.
- 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
(3) Any other donation.
(b) The board of managers shall apply the grant, devise, gift, bequest, or donation in accordance with the terms of the grant, devise, gift, bequest, or donation and as the board of managers considers beneficial to the health center.
[Pre-1992 Revision Citation: 12-4-6-8 part.]
As added by P.L.2-1992, SEC.24.