(b) The permanent fund of a memorial corporation is perpetual and may not be reduced for any purpose. The income from the investment of a memorial corporation's permanent fund may be used only for purposes allowed in this chapter.(c) The stock and property of a memorial corporation is nontaxable.[Pre-2003 Recodification Citation: 10-7-12-9.]As added by P.L.2-2003, SEC.9.
Indiana Legal Code