IC 10-18-7-9: Perpetual existence; stock and property not taxable

Sec. 9. (a) The existence of a memorial corporation organized under this chapter is perpetual.

(b) The permanent fund of a memorial corporation is perpetual and may not be reduced for any purpose. The income from the investment of a memorial corporation's permanent fund may be used only for purposes allowed in this chapter.

(c) The stock and property of a memorial corporation is nontaxable.