Sec. 4. (a) The board may accept or refuse to accept an offered gift of historic property to be administered by the board.

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Terms Used In Indiana Code 4-37-4-4

  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
     (b) Notwithstanding IC 4-20.5-7 and IC 5-22-22, the board may improve, encumber, sell, lease, transfer, convey, or exchange historic property administered by the board.

     (c) Notwithstanding IC 5-22-22, the board may, in accordance with the board’s policies, sell, donate, or exchange artifacts in the state museums’ collections to or with other public or nonprofit museums or historical societies.

     (d) The board may by rule establish a procedure for evaluating the merits of proposals to:

(1) accept gifts of;

(2) sell;

(3) encumber;

(4) transfer;

(5) convey; or

(6) exchange;

artifacts or historic property.

     (e) The board may donate or make short term loans of artifacts in the museums’ collections to other:

(1) public or nonprofit museums; or

(2) historical societies.

As added by P.L.167-2011, SEC.1. Amended by P.L.166-2013, SEC.4.

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