Indiana Code 12-12-1-8. Receipt of property; conveyance and use of gifts and bequests

Sec. 8. (a) The bureau may receive property from any source if the director determines that receipt of the property is consistent with this article.

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Bequest: Property gifted by will.
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Property: includes personal and real property. See Indiana Code 1-1-4-5

(b) The bureau may, subject to the terms of the gift or bequest, sell, convey, or authorize the use of the gift or bequest.

[Pre-1992 Revision Citation: 4-28-10-23(a).]

As added by P.L.2-1992, SEC.6.