Sec. 2. As used in this chapter, "endowment fund" means an institutional fund, or any part of the fund, not wholly expendable by the institution on a current basis under the terms of the applicable gift instrument. The term does not include assets that an institution designates as an endowment fund for the institution's use.
Ind. Code § 30-2-12-2
"Endowment fund" defined
Known as the Uniform Prudent Management of Institutional Funds Act
The act spans §§ 30–30 (24 sections).
As added by P.L.268-1989, SEC.1
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.