Section 14-13-1-41 - White River state park foundation(a) The commission may establish a nonprofit subsidiary corporation 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, bequests, devises, and contributions.(b) A subsidiary corporation established under this section: (1) shall use money received under subsection (a) to carry out in any manner the purposes of and programs under this chapter;(2) shall report to the budget committee each year concerning:(A) the use of money received under subsection (a); and(B) the balances in any accounts or funds established by the subsidiary corporation; and(3) may deposit money received under subsection (a) in an account or fund that is: (A) administered by the subsidiary corporation; and(B) not part of the state treasury.(c) A subsidiary corporation established under this section shall be governed by a board of directors comprised of: (1) the members of the commission appointed under section 6 of this chapter; and(2) any other directors that the members of the commission appoint.(d) Employees of the commission shall provide administrative support for a subsidiary corporation established under this section.(e) The state board of accounts shall audit a subsidiary corporation established under this section.Amended by P.L. 181-2015, SEC. 35, eff. 7/1/2015.Amended by P.L. 13-2013, SEC. 49, eff. 4/1/2013.Added by P.L. 51-2012, SEC. 1, eff. 7/1/2012.