Indiana § 4-24-2-2 - Annuities
Full text of Indiana Indiana Code § 4-24-2-2 — Annuities, with citation guidance and answers to common questions.
§ 4-24-2-2. Annuities
Sec. 2. When the gift is for the purpose of providing an annuity, the same may be accepted by any such institution or by the state itself upon condition that the institution or the state, as the case may be, shall pay to 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, or shall pay to any person or persons named by the donor, in being at the time of the gift, for the life of such person or persons or for a term of years not beyond the lifetime of such person or persons, as may be agreed, an annuity on the value of the property at the time the gift is made, as provided under this chapter, but such annuity shall in no case exceed the actual income from the property donated.
Formerly: Acts 1917, c.20, s.2; Acts 1923, c.127, s.1. As amended by P.L.136-2018, SEC.10.
Frequently Asked Questions About Indiana § 4-24-2-2
What does Indiana Code § 4-24-2-2 cover?
Section 4-24-2-2 ("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 § 4-24-2-2?
A common citation format is "Indiana Code § 4-24-2-2" (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 § 4-24-2-2 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.