Indiana § 21-30-5-4 - Annuity gifts; conditions
Full text of Indiana Indiana Code § 21-30-5-4 — Annuity gifts; conditions, with citation guidance and answers to common questions.
§ 21-30-5-4. Annuity gifts; conditions
Sec. 4. When any gift, devise, or bequest is made for the purpose of providing an annuity, the gift, devise, or bequest may be accepted by the board of trustees on condition that Vincennes University pay to:
(1) the donor, for the life of the donor, or for a term of years not beyond the lifetime of the donor, as may be agreed upon;
(2) any person or persons named by the donor or testator, in being at the time of the making of the gift, devise, or bequest, for the life or lives of the named person or persons, as may be agreed upon; or
(3) the donor or to any person or persons named by the donor or testator and alive at the time of the gift, devise or bequest, or both, for the life of the donor and the life or lives of the named person or persons, either in succession in a designated order of survivorship or in shares, concurrently, as may be agreed upon;
an annuity on the value of the property at the time the gift, devise or bequest is made. The annuity must not exceed the actual income of the property donated, devised, or bequeathed, unless a written agreement to pay a greater sum than the annuity is executed by the board of trustees of Vincennes University.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-25(b).]
As added by P.L.2-2007, SEC.271.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 21-30-5-4
What does Indiana Code § 21-30-5-4 cover?
Section 21-30-5-4 ("Annuity gifts; conditions") 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 § 21-30-5-4?
A common citation format is "Indiana Code § 21-30-5-4" (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 § 21-30-5-4 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.