Ind. Code § 10-18-7-9
Perpetual existence; stock and property not taxable
As added by P.L.2-2003, SEC.9.
- (a) The existence of a memorial corporation organized under this chapter is perpetual.
- (b) The permanent fund of a memorial corporation is perpetual and may not be reduced for any purpose. The income from the investment of a memorial corporation's permanent fund may be used only for purposes allowed in this chapter.
(c) The stock and property of a memorial corporation is nontaxable.
[Pre-2003 Recodification Citation: 10-7-12-9.]
As added by P.L.2-2003, SEC.9.