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 2 of this chapter.
(b) A person competent to make a will may create a trust under this section.
[Pre-2003 Recodification Citation: 10-7-12-5.]
As added by P.L.2-2003, SEC.9.
Structure Indiana Code
Chapter 7. Memorial Corporations
10-18-7-3. Officers; Treasurer's Bond; Election of Officers; Corporation's Books
10-18-7-5. Authority to Hold and Manage Funds in Trust; Trusts Created by Will
10-18-7-6. Nonsectarian and Nondiscriminatory Requirements
10-18-7-7. Issuing Stock; Stock Transfer; Canceled Stock
10-18-7-8. Board of Trustees' Duties
10-18-7-9. Perpetual Existence; Stock and Property Not Taxable