IC 20-26-7-7 — Unconditional devise or bequest
Chapter 7. Property and Eminent Domain
Bills amending this section
Section text
Sec. 7. If a school corporation has acquired or acquires any personal property or real estate by gift, devise, or bequest concerning which the donor or testator, at the time of making the gift, bequest, or devise, does not include conditions or directions concerning the gift, bequest, or devise inconsistent with this section, the principal of the gifts, devises, and bequests is inviolate, but the interest, rents, incomes, issues, and profits thereof may be expended by the school corporation.
As added by P.L.1-2005, SEC.10. Amended by P.L.233-2015, SEC.109; P.L.74-2026, SEC.67.
Source: official publisher (2026 edition)