Indiana Code 23-14-70-1. Power to receive deposit of money; use of interest
(1) cemetery corporation;
Terms Used In Indiana Code 23-14-70-1
- 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.
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
(3) association; or
(4) organization;
that has been dissolved or is to be dissolved a deposit of money to be held in trust under terms that are designated in writing.
(b) Funds may be provided under section 1 of this chapter to the board of commissioners of:
(1) the county in which the cemetery of the cemetery corporation, church, association, or organization is located; or
(2) the county adjoining and nearest to the county described in subdivision (1).
(c) The interest on the funds received under subsection (a) shall be used to keep in good condition any:
(1) abandoned cemetery;
(2) public incorporated cemetery; or
(3) lots, monuments, mausoleums, vaults, or other burial structures in any cemetery.
(d) A board of commissioners may not expend more for the purpose set forth in subsection (c) than the interest earned from the loan or investment of the funds.
As added by P.L.52-1997, SEC.44.