Indiana Code 14-31-2-16. Distribution of principal
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Terms Used In Indiana Code 14-31-2-16
- campaign: refers to the Indiana natural heritage protection campaign established by this chapter. See Indiana Code 14-31-2-3
- division: refers to the division of nature preserves. See Indiana Code 14-31-2-4
- trust I: refers to the Indiana natural heritage stewardship trust I authorized by this chapter. See Indiana Code 14-31-2-7
- trust II: refers to the Indiana natural heritage stewardship trust II authorized by this chapter. See Indiana Code 14-31-2-8
- Trustee: A person or institution holding and administering property in trust.
Sec. 16. The division may instruct the trustee of trust II to distribute part or all of the principal of trust II to an entity primarily responsible for management of a campaign acquisition if, in the discretion of the division, the income that can be made available to that entity from trust I and trust II under section 15 of this chapter is insufficient for the accomplishment of management activities that are necessary for the preservation of the natural features that justified the acquisition of the site.
[Pre-1995 Recodification Citation: 14-4-5.1-9.]
As added by P.L.1-1995, SEC.24.