Indiana § 12-30-3-23 - Gifts, devises, and bequests; investment; special fund; expenditures
Full text of Indiana Indiana Code § 12-30-3-23 — Gifts, devises, and bequests; investment; special fund; expenditures, with citation guidance and answers to common questions.
§ 12-30-3-23. Gifts, devises, and bequests; investment; special fund; expenditures
Sec. 23. (a) The county home board may receive and administer any gift, devise, or bequest of personal property, including the income from real property, to or for the benefit of the county home or for the benefit of residents or patients who are admitted to the care or supervision of the county home board. The county home board may invest or reinvest any of the money received under this section in the same kinds of securities in which life insurance companies are authorized by law to invest money.
(b) All money received by the county home board under this section and all money, proceeds, or income realized from real property or other investments:
(1) shall be kept in a special fund;
(2) may not be commingled with any other fund received from taxation; and
(3) may be expended by the county home board in any manner consistent with the purposes of the fund's creation and the intention of the donor, subject to the approval of the court of the county having probate jurisdiction.
[Pre-1992 Revision Citation: 12-4-3-13.]
As added by P.L.2-1992, SEC.24.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 12-30-3-23
What does Indiana Code § 12-30-3-23 cover?
Section 12-30-3-23 ("Gifts, devises, and bequests; investment; special fund; expenditures") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 12-30-3-23?
A common citation format is "Indiana Code § 12-30-3-23" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 12-30-3-23 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.