Section 10-18-7-9 - Perpetual existence; stock and property not taxable(a) The existence of a memorial corporation organized under this chapter is perpetual.(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.