Sec. 1. The board may designate, by adopting a resolution, an existing nonprofit corporation or establish a nonprofit subsidiary corporation, known as or to be known as the Indiana state museum foundation, that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code to solicit and accept private funding, gifts, donations, […]
Sec. 2. The foundation: (1) shall use money received under section 1 of this chapter to carry out in any manner the purposes and programs under this article; and (2) may deposit money received under section 1 of this chapter in an account or fund that is: (A) administered by the foundation; and (B) not […]
Sec. 3. The foundation is governed by a board of directors. The directors are the members of the board. As added by P.L.167-2011, SEC.1.
Sec. 4. Employees of the corporation shall provide administrative support for the foundation. As added by P.L.167-2011, SEC.1.
Sec. 5. The foundation is subject to compliance audits by the state board of accounts. As added by P.L.167-2011, SEC.1. Amended by P.L.166-2013, SEC.6; P.L.181-2015, SEC.8.
