Section 10-18-7-5 - Authority to hold and manage funds in trust; trusts created by will(a) A memorial corporation organized under this chapter may hold and manage funds, money, or property in trust for any person or for any purpose expressed in the terms of the trust. However, the trust must be for some of the purposes or objects set forth in sections 1 and 2 of this chapter.(b) A person competent to make a will may create a trust under this section.Pre-2003 Recodification Citation: 10-7-12-5.
As added by P.L. 2-2003, SEC.9.