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116 chapters · 1,096 sections in this title.
Ind. Code § 10-18-7-5 Authority to hold and manage funds in trust; trusts created by will
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Sec. 5. (a) A memorial corporation organized under this chapter may hold and manage funds, money, or property in trust for any person or for any purpose expressed in the terms of the trust. However, the trust must be for some of the purposes or objects set forth in sections 1 and…
Ind. Code § 10-18-7-6 Nonsectarian and nondiscriminatory requirements
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Sec. 6. The money, property, or income owned or held by a memorial corporation organized under this chapter may not be owned, held, or used to promote the interest or teachings of a specific church, sect, school, or creed. However, the memorial corporation may not discriminate ag…
Ind. Code § 10-18-7-7 Issuing stock; stock transfer; canceled stock
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Sec. 7. (a) The stock of a memorial corporation consists of one (1) share for each five dollars ($5) of the permanent fund belonging to the corporation. The secretary of the memorial corporation shall issue to any person paying money into, or in any manner augmenting, the permane…
Ind. Code § 10-18-7-8 Board of trustees' duties
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Sec. 8. The board of trustees of a memorial corporation shall do the following: (1) Conduct the prudential affairs of the memorial corporation. (2) Vote on the loans, investments, purchases, sales, and the policy and manner of conducting the affairs of the corporation. (3) Keep a…