{"data":{"id":"us-in/ic-4-24-2-7","jurisdiction":"us-in","citation":"IC 4-24-2-7","heading":"Money gifts","body":"Sec. 7. All gifts of money, and all money realized from real and personal property, made under this chapter, to permanently endow any institution described in section 1 of this chapter shall be taken in charge by the state, as a trust, and managed in all respects the same as the common school fund of the state is managed. The proceeds arising from a permanent endowment made under this chapter shall be paid to the institution being endowed for the purposes provided by the terms of the gift.","path":["TITLE 4. STATE OFFICES AND ADMINISTRATION","ARTICLE 24. INSTITUTIONS─GENERAL PROVISIONS","Chapter 2. Gifts; Acceptance and Return of Annuity to Donor Authorized"],"source_url":"https://iga.in.gov/ic/2026/Title_4.html#4-24-2-7","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-30T06:26:00Z","sha256":"4671fc6484e4755422d21ef0bcba1baa20da849e6ddf19e66f41a2b92bc9f453","source_id":"us-in","stale":false,"prev":"us-in/ic-4-24-2-6","next":"us-in/ic-4-24-2-8"},"notice":"GroundRules: Original legal text. Not legal advice."}