Indiana Code 23-14-53-1. Receipt of deposit or legacy of money
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Sec. 1. (a) Any church, corporation, or association that owns a cemetery may receive from any person a deposit or legacy of money to be held in trust:
(2) for a period that the donor or testator designates in writing.
(1) in perpetuity; or
Terms Used In Indiana Code 23-14-53-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Donor: The person who makes a gift.
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- Legacy: A gift of property made by will.
- Testator: A male person who leaves a will at death.
(b) The earnings of the deposit or legacy shall be used for the purpose of keeping in good condition any lot or lots, monument, vault, or gravestone in the cemetery that is designated by the donor or testator.
As added by P.L.52-1997, SEC.27.