Sec. 1. Any state educational institution or the state of Indiana may: (1) receive gifts, bequests, and devises of real or personal property, or both, for the aid or maintenance of any state educational institution; and (2) agree to return to the donor or to any living person named by the donor and living at the time of the gift, an annuity under the provisions and safeguards provided in this chapter. [Pre-2007 Higher Education Recodification Citation: 4-24-2-1 part.]
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