Senate Bill 144
Engrossed Senate Bill (S)
DIGEST
Kids first trust fund board subsidiary corporation. Provides that the members of the Indiana kids first trust fund board (board) serve terms of four years (rather than two years under current law) and provides for the terms of the appointed members of the board to be staggered. Provides that at least two meetings of the board each year must be conducted with at least a quorum of the members of the board. Provides that not later than 10 days after a meeting of the board, the board shall post a draft of the minutes of the meeting on the board's
Kids first trust fund board subsidiary corporation. Provides that the members of the Indiana kids first trust fund board (board) serve terms of four years (rather than two years under current law) and provides for the terms of the appointed members of the board to be staggered. Provides that at least two meetings of the board each year must be conducted with at least a quorum of the members of the board. Provides that not later than 10 days after a meeting of the board, the board shall post a draft of the minutes of the meeting on the board's
Internet web site. Requires the board to study to the topic of establishing a nonprofit subsidiary corporation and provide a report to the general assembly with the board's findings. Allows the board to create a nonprofit subsidiary corporation to solicit and accept private funding, gifts, donations, bequests, devises, and contributions.
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