Indiana § 20-26-7-9 - Purpose and construction of statutes concerning property acquired by gift or bequest
Full text of Indiana Indiana Code § 20-26-7-9 — Purpose and construction of statutes concerning property acquired by gift or bequest, with citation guidance and answers to common questions.
§ 20-26-7-9. Purpose and construction of statutes concerning property acquired by gift or bequest
Sec. 9. (a) It is the main purpose of this chapter that the identity of the principal of gifts, bequests, and devises to the state's public schools may not be lost and that the income from investment of the gifts, bequests, and devises shall be used in giving students the public education and library advantages that could not be enjoyed if only the school and library revenue and income provided by law were available.
(b) Sections 6 through 9 of this chapter may not be construed as a limitation against the investment and reinvestment either by the school corporation itself or the trustees appointed under section 8 of this chapter, as the safety of the fund or the best interests of the recipient school corporation require.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5-20-5.]
As added by P.L.1-2005, SEC.10.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 20-26-7-9
What does Indiana Code § 20-26-7-9 cover?
Section 20-26-7-9 ("Purpose and construction of statutes concerning property acquired by gift or bequest") 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 § 20-26-7-9?
A common citation format is "Indiana Code § 20-26-7-9" (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 § 20-26-7-9 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.