Indiana § 16-22-3-14 - Hospital funds; authorized transfers
Full text of Indiana Indiana Code § 16-22-3-14 — Hospital funds; authorized transfers, with citation guidance and answers to common questions.
§ 16-22-3-14. Hospital funds; authorized transfers
Sec. 14. (a) The governing board shall take, hold, disburse, and dispose of, for the benefit of the hospital, all real or personal property or other property that is a part of hospital funds in accordance with this article.
(b) The board may accept gifts, devises, bequests, or grants upon the conditions directed by the donor if the conditions are not contrary to law. However, if the hospital was constructed by a county building authority under IC 36-9-13, the powers of the board do not include those powers vested by IC 36-9-13 in the building authority.
(c) The board may transfer a part of the hospital funds to a nonprofit corporation organized under IC 23-7-1.1 (before its repeal on August 1, 1991) or IC 23-17 that is:
(1) a hospital foundation organized and operated for the exclusive benefit of the hospital; or
(2) a related or controlled entity;
if adequate provision is made for working capital and other known and anticipated hospital needs.
(d) If a transfer includes public funds of the hospital, the public funds transferred to the foundation or related or controlled entity may be audited by the state board of accounts unless:
(1) the hospital foundation or related or controlled entity files annually with the treasurer of the hospital a copy of an audit report prepared by an independent certified public accountant; and
(2) the audit report is on file at the hospital and is made available to the state board of accounts.
[Pre-1993 Recodification Citation: 16-12.1-3-12.]
As added by P.L.2-1993, SEC.5.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 16-22-3-14
What does Indiana Code § 16-22-3-14 cover?
Section 16-22-3-14 ("Hospital funds; authorized transfers") 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 § 16-22-3-14?
A common citation format is "Indiana Code § 16-22-3-14" (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 § 16-22-3-14 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.