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.
[Pre-2003 Recodification Citation: 10-7-12-9.]
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