Indiana Code 10-18-7-4. Use of property
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Terms Used In Indiana Code 10-18-7-4
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 4. All property owned or held by the memorial corporation constitutes a permanent fund to be owned, held, used, and operated solely for the purposes set forth in sections 1 and 2 of this chapter and not for the gain or for the personal benefit of any person, corporation, or association.
[Pre-2003 Recodification Citation: 10-7-12-4.]
As added by P.L.2-2003, SEC.9.