Indiana § 5-33-5-14 - Nonprofit subsidiary
Full text of Indiana Indiana Code § 5-33-5-14 — Nonprofit subsidiary, with citation guidance and answers to common questions.
§ 5-33-5-14. Nonprofit subsidiary
Sec. 14. (a) The corporation may establish a nonprofit subsidiary corporation that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code to solicit and accept private sector funding, gifts, donations, bequests, devises, and contributions.
(b) A nonprofit subsidiary corporation established under this section:
(1) must use money received under subsection (a) to carry out in any manner the purposes and programs under this article;
(2) must report to the budget committee each year concerning:
(A) the use of money received under subsection (a); and
(B) the balances in any accounts or funds established by the nonprofit subsidiary corporation; and
(3) may deposit money received under subsection (a) in an account or fund that is:
(A) administered by the nonprofit subsidiary corporation; and
(B) not part of the state treasury.
(c) Except as provided in IC 5-11-1-9(m), the state board of accounts shall audit a subsidiary corporation established under this section.
As added by P.L.68-2023, SEC.4. Amended by P.L.170-2023, SEC.8.
IC 5-33-6Chapter 6. Tourism Information and Promotion Fund
5-33-6-1"Fund" 5-33-6-2"Heritage barn" 5-33-6-3"Promotion" 5-33-6-4"Tourism group" 5-33-6-5Tourism information and promotion fund established 5-33-6-6References to tourism information and promotion fund 5-33-6-7Grants 5-33-6-8Grant guidelines 5-33-6-9Promotional material 5-33-6-10Rules 5-33-6-11Heritage barn tourism program
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 5-33-5-14
What does Indiana Code § 5-33-5-14 cover?
Section 5-33-5-14 ("Nonprofit subsidiary") 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 § 5-33-5-14?
A common citation format is "Indiana Code § 5-33-5-14" (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 § 5-33-5-14 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.