Any state charitable or benevolent institution or the state of Indiana may:

1. (1) receive gifts, bequests, and devises of real or personal property, or both, for:

   1. (A) the aid or maintenance of any institution; or
   2. (B) state parks or other state purposes; and

2. (2) agree to return to the donor or to any living person named by the donor and living at the time of the gift, an annuity under the provisions and safeguards provided in this chapter.

   [Pre-2007 Higher Education Recodification Citation: 4-24-2-1 part.]

As amended by P.L.2-2007, SEC.58.