Bequests, devises, gifts, grants, or promises
Known as the Indiana Nonprofit Corporation Act
The act spans §§ 23-17-10-1 to 23-17-9-2 (200 sections).
As added by P.L.179-1991, SEC.1.
Sec. 7. A bequest, devise, gift, grant, or promise contained in a will or other instrument of donation, subscription, or conveyance that:
(1) is made to a constituent corporation; and
(2) takes effect or remains payable after the merger;
inures to the surviving corporation unless a will or other instrument otherwise specifically provides.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.