Indiana § 21-30-3-5 - Security of payment of annuities
Full text of Indiana Indiana Code § 21-30-3-5 — Security of payment of annuities, with citation guidance and answers to common questions.
§ 21-30-3-5. Security of payment of annuities
Sec. 5. (a) To secure the payment of annuities, granted under this chapter, the property comprised in the gift, devise, or bequest may be pledged by way of mortgage or otherwise to the annuitant or annuitants for the full period of the life of the annuity or annuities.
(b) Property pledged under subsection (a) is the sole guarantee, and the donee shall not be obligated in any other manner unless by written agreement of the donee approved by the governor as provided in section 4 of this chapter.
[Pre-2007 Higher Education Recodification Citation: 20-12-4-3.]
As added by P.L.2-2007, SEC.271.
IC 21-30-4Chapter 4. Gifts, Bequests, and Devises; Ivy Tech Community College
21-30-4-1Applicability of chapter 21-30-4-2Board; acceptance of gifts, devises, and bequests
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 21-30-3-5
What does Indiana Code § 21-30-3-5 cover?
Section 21-30-3-5 ("Security of payment of annuities") 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 § 21-30-3-5?
A common citation format is "Indiana Code § 21-30-3-5" (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 § 21-30-3-5 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.