Sendak v. Trustees of Indiana University

There is only one issue in this case, namely, may the Trustees of Indiana University receive gifts, devises and bequests from private donors and testators and as trustees, hold, invest and reinvest such property in corporate stock? The appellant, the Attorney General of Indiana, contends that the receipt of such corporate stock and the reinvestment of such stocks is violative of Art. 11, § 12 of the Constitution of the State of Indiana, which states that the State of Indiana may not “become a stockholder in any corporation.”

This appeal comes to us from a summary judgment entered in favor of…