Sec. 6. As used in this chapter, "institutional fund" means a fund held by an institution exclusively for charitable purposes. The term does not include the following:
(1) A fund held for an institution by a trustee that is not an institution.
(2) A fund in which a beneficiary that is not an institution has an interest, other than possible rights that could arise upon violation or failure of the purposes of the fund.
(3) Assets held by an institution primarily for charitable purposes and not primarily for investment purposes.
As added by P.L.268-1989, SEC.1. Amended by P.L.266-1995, SEC.3; P.L.226-2007, SEC.12.
Structure Indiana Code
Title 30. Trusts and Fiduciaries
Chapter 12. Uniform Management of Institutional Funds Act
30-2-12-0.5. Application of Chapter
30-2-12-1. Application of Chapter
30-2-12-1.3. "Charitable Purpose" Defined
30-2-12-2. "Endowment Fund" Defined
30-2-12-3. "Gift Instrument" Defined
30-2-12-5. "Institution" Defined
30-2-12-6. "Institutional Fund" Defined
30-2-12-9. Appropriation or Accumulation of Endowment Funds; Gift Instrument
30-2-12-14. Duties of Person or Institution Managing or Investing Institutional Fund
30-2-12-15. Delegation of Management or Investment of Institutional Fund; Duties of Agent
30-2-12-16. Determination of Compliance