15-6-203. Veterans' exemptions -- clubhouse -- land -- incompetent veterans' trusts. (1) (a) A clubhouse, building, or land erected by or belonging to any society or organization of honorably discharged United States military personnel that is used primarily for educational, fraternal, benevolent, or purely public charitable purposes rather than for gain or profit is exempt from taxation.
(b) The clubhouse or building exemption provided for in this section applies:
(i) to the personal property necessarily used in the building; and
(ii) even if a business, intended primarily for the use of the members, is required to be open to the public and is operated in a portion of the building.
(c) The land exemption provided for in this section applies only to land owned by the society or organization continuously since January 1, 1960.
(2) All property, real or personal, in the possession of legal guardians of incompetent veterans of U.S. military service or minor dependents of the veterans, when the property is funds or derived from funds received from the United States as pension, compensation, insurance, adjusted compensation, or gratuity, is exempt from all taxation as property of the United States while held by the guardian, but not after title passes to the veteran or minor in the minor's own right on account of removal of legal disability.