Version a
Venue; transfer of trust's principal place of administration; notice;
objection to transfer
Note: This version of section amended by P.L.238-2005, SEC.43.
See also following version of this section amended by P.L.245-2005,
SEC.9.
Sec. 3. (a) Unless the terms of the trust provide otherwise, venue
in this state for matters arising under this article shall be exclusively
in the county in which the principal place of administration of the
trust is located. The principal place of administration of a trust is that
usual place at which the records pertaining to the trust are kept or, if
there is no such place, the trustee's residence. If there are cotrustees,
the principal place of administration is either that of the corporate
trustee, if there is only one (1); that of the individual trustee who has
custody of the records, if there is but one (1) such person and there
is no corporate cotrustee; or, if neither of these alternatives apply,
that of any of the cotrustees.
(b) Unless the trust provides otherwise, a trustee is under a
continuing duty to administer the trust at a place appropriate to the
trust's purposes and administration.
(c) Unless the trust provides otherwise, and without precluding
the right of the court to order, approve, or disapprove a transfer, the
trustee, in furtherance of a duty prescribed by subsection (b), may
transfer the trust's principal place of administration to another state
or to a jurisdiction outside the United States.
(d) The trustee shall notify the qualified beneficiaries of a
proposed transfer of a trust's principal place of administration not
less than sixty (60) days before initiating the transfer. The notice of
proposed transfer must include the following information:
(1) The name of the jurisdiction to which the principal place of
administration is to be transferred.
(2) The address and telephone number of the new location at
which the trustee can be contacted.
(3) An explanation of the reasons for the proposed transfer.
(4) The date on which the proposed transfer is anticipated to
occur.
(5) The date, not less than sixty (60) days after the giving of
notice, by which the qualified beneficiary must notify the
trustee of an objection to the proposed transfer.
(e) The authority of a trustee under this section to transfer a trust's
principal place of administration terminates if a qualified beneficiary
notifies the trustee of an objection to the proposed transfer on or
before the date specified in the notice.
(f) In connection with a transfer of the trust's principal place of
administration, the trustee may transfer some or all of the trust
property to a successor trustee designated in the terms of the trust or
appointed under IC 30-4-3-33.
(g) If the principal place of administration is maintained in
another state, venue in this state for any matters arising under this
article shall be in the county stipulated in writing by the parties to the
trust or, if there is no such stipulation, in the county where the trust
property, or the evidence of the trust property, which is the subject
of the action is either situated or generally located.
(h) Any party to an action or proceeding shall be entitled to a
change of venue or change of judge as provided in the Indiana Rules
of Procedure. A change of venue in any action shall not be construed
to authorize a permanent change of venue for all matters arising
under this article, and, upon conclusion of the action, venue shall
return to the court where the action was initiated.
(Formerly: Acts 1971, P.L.416, SEC.7.) As amended by
P.L.238-2005, SEC.43.
Last modified: May 27, 2006