Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Stocks; bonds; securities Sec. 1. Whenever any trust, or any decedent's estate, or any property subject to the control of any executor, administrator, trustee, guardian or ...

Securities not listed; terms Sec. 2. Whenever any decedent's estate or any property subject to the control of any executor, administrator, or guardian, shall consist, in ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Eligible investments Sec. 1. (a) Obligations issued by or for the Inter-American Development Bank or the African Development Bank are declared to be eligible investments ...

Securities; insurance Sec. 1. Every executor, administrator, guardian, trustee, receiver or other fiduciary shall have the power, in such capacity, to invest in the following: ...

Administrators, executors, and guardians; powers to execute leases; term; jurisdiction; sale of leases; petition Sec. 1. Administrators and executors of ...

Sale of leases; order of court; notice; royalties; bonus Sec. 2. Upon the filing of a petition under section 1 of this chapter, the court in ...

Bidding; report; hearing; endorsement Sec. 3. In compliance with the terms of the order for the sale of said oil and gas, coal, or other mineral ...

Consolidating with adjoining land; joint development Sec. 4. Every guardian, executor, or administrator shall have the power, upon approval by the court wherein the guardianship is ...

Acts conclusive; disaffirmance denied Sec. 5. Acts of guardians under this chapter are conclusive upon the protected person and any future disaffirmance is denied. (Formerly: ...

Guardians of minors and incapacitated persons; option contracts for exploring Sec. 1. Guardians of the estates of persons under the age of eighteen (18) years ...

Petition to execute options; prospectus Sec. 2. Guardians of the estates of persons under the age of eighteen (18) years and incapacitated persons are authorized to ...

Hearing; order of court Sec. 3. Upon the filing of such petition, the court shall proceed to hear and determine the same either in term time ...

Binding and conclusive; disaffirmance Sec. 4. Said option and the deed or lease, as the case may be, in the event the option is exercised, shall ...

Definitions Sec. 1. The words and phrases used in this chapter shall be construed as follows: (a) "Fiduciary" shall mean a bank or trust company ...

Establishment; conformity with Internal Revenue Code Sec. 2. Any Indiana bank or trust company or any national bank, qualified to act as fiduciary in this state, ...

Written plans; rights of participants Sec. 3. Each common trust fund administered by such bank shall be established and maintained in accordance with a written plan ...

Participation; proportionate interest Sec. 4. Each fiduciary investment placed in every such common trust fund shall participate on the basis of a proportionate interest in all ...

Governing laws and regulations Sec. 5. Investment and reinvestment of the money paid into every such fund shall be made, retained and disposed of in accordance ...

Repealed ( Repealed by P.L.80-1989, SEC.18.) ...

Common trust funds for funds held by other bank, trust company, or affiliate as fiduciary Sec. 7. Any: (1) Indiana bank or trust company; or ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Resulting trust Sec. 6. When a conveyance for a valuable consideration is made to one (1) person, and the consideration therefor paid by another, no use ...

Repealed ( Repealed by P.L.144-1994, SEC.4.) ...

Resulting trust; absolute conveyance without consent Sec. 8. The provisions of the section next before the last, shall not extend to cases where the alienee shall ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Reserving absolute power of revocation Sec. 14. A grantor of lands reserving an absolute power of revocation, shall be deemed an absolute owner, as regards creditors ...

Disposition more extensive than power Sec. 15. No disposition by virtue of a power, shall be void on the ground that it is more extensive than ...

Repealed ( Repealed by Acts 1975, P.L.111, SEC.13.) ...

Revocation Sec. 17. (a) Every power, beneficial or in trust, shall be irrevocable, unless an authority to ...

Sale of lands; mortgage or conveyance Sec. 18. Where a power to sell lands shall be given to the grantee, in any mortgage or other conveyance ...

Power of attorney; conveyances Sec. 19. The provisions of this chapter relative to powers, shall not extend to a simple power of attorney to convey lands, ...

Repealed ( Repealed by P.L.275-1985, SEC.2.) ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Definitions Sec. 1. (a) In this chapter unless the context or subject-matter otherwise requires: (1) "Bank" includes any person or association of persons, whether ...

Application of payments made to fiduciaries Sec. 2. A person who in good faith pays or transfers to a fiduciary any money or other ...

Registration or transfer of securities held by fiduciaries Sec. 3. If an executor, administrator, trustee, guardian or other fiduciary or the nominee of a fiduciary in ...

Transfer of negotiable instrument by fiduciary Sec. 4. If any negotiable instrument payable or indorsed to a fiduciary as such is indorsed by the fiduciary, or ...

Check drawn by fiduciary payable to third person Sec. 5. If a check or other bill of exchange is drawn by a fiduciary as such, or ...

Check drawn by and payable to fiduciary Sec. 6. If a check or other bill of exchange is drawn by a fiduciary as such or in ...

Deposit in name of fiduciary Sec. 7. If a deposit is made in a bank to the credit of a fiduciary as such, the bank is ...

Deposit in name of principal Sec. 8. If a check is drawn upon the account of his principal in a bank by a fiduciary who is ...

Deposit in fiduciary's personal account Sec. 9. If a fiduciary makes a deposit in a bank to his personal credit of checks drawn by him upon ...

Deposit in names of two or more trustees Sec. 10. When a deposit is made in a bank in the name of two (2) or more ...

Prior transactions Sec. 11. The provisions of this chapter shall not apply to transactions taking place prior to ...

Cases not provided for Sec. 12. In any case not provided for in this chapter, the rules of law and equity, including the law merchant and ...

Uniformity of interpretation Sec. 13. This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those ...

Short title Sec. 14. This chapter may be cited as the Uniform Fiduciaries Act. (Formerly: Acts 1927, c.17, s.14.) As ...

Definitions Sec. 1. In this chapter and IC 30-2-6, unless the context otherwise requires: (1) "Assignment" includes any written stock ...

Registration in name of fiduciary Sec. 2. A corporation or transfer agent registering a security in the name of a person who is a fiduciary or ...

Assignment by fiduciary Sec. 3. Except as otherwise provided in this chapter, a corporation or transfer agent making a transfer of a security pursuant to an ...

Evidence of appointment or incumbency Sec. 4. A corporation or transfer agent making a transfer pursuant to an assignment by a fiduciary who is not the ...

Adverse claims Sec. 5. (a) A person asserting a claim of beneficial interest adverse to the transfer of a security pursuant to an assignment by ...

Nonliability of corporation or transfer agent Sec. 6. A corporation or transfer agent incurs no liability to any person by making a transfer or otherwise acting ...

Nonliability of third persons Sec. 7. (a) No person who participates in the acquisition, disposition, assignment or transfer of a ...

Territorial application Sec. 8. (a) The rights and duties of a corporation and its transfer agents in registering a security in the name of a fiduciary ...

Tax obligations Sec. 9. This chapter does not affect any obligation of a corporation or transfer agent with respect ...

Uniformity of interpretation Sec. 10. This chapter shall be so construed as to effectuate its general purpose to make uniform the law of those states which ...

Short title Sec. 11. This chapter may be cited as the Uniform Act for the Simplification of Fiduciary Security Transfers. (Formerly: Acts 1961, c.124, ...

Contributions; self-employment retirement fund Sec. 1. Either: (1) a trust created by an employer as part of a stock bonus, pension, disability, death benefit, or ...

Income; accumulation Sec. 2. The income arising from any trust within the classification mentioned in the preceding section may be permitted to accumulate in accordance with ...

Termination of trust; limitation of actions Sec. 3. No rule of law against perpetuities or suspension of the power of alienation of the title to property, ...

Definitions Sec. 1. As used in this chapter, unless the context or subject-matter requires otherwise: (a) "Liquidation proceeding" ...

Secured creditors' claim must disclose security Sec. 2. In a liquidation proceeding every secured creditor's claim against the general assets shall disclose the nature of the ...

Effect of concealment Sec. 3. Any secured creditor who with intent to evade the provisions of this chapter fails to disclose ...

Value of security credited upon claims Sec. 4. Dividends paid to secured creditors shall be computed only upon the balance due after the value of all ...

Determination of value by secured creditor Sec. 5. (1) By collection. When the asset constituting the security is an obligation for the payment of money, the ...

Alternative determination of value Sec. 6. Where valuation under the provisions of section 5 of this chapter is impracticable or would cause undue delay, the court, ...

Exempt security not credited Sec. 7. When any creditor has legal or equitable security upon assets which are exempt from process ...

Uniformity of interpretation Sec. 8. This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those ...

Short title Sec. 9. This chapter may be cited as Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings. (Formerly: Acts 1941, ...

Repealed ( Repealed by P.L.267-1989, SEC.3.) ...

"Adult" defined Sec. 1. As used in this chapter, "adult" means an individual who is at least twenty-one (21) years of age. As added ...

"Benefit plan" defined Sec. 2. As used in this chapter, "benefit plan" means an employer's plan for the benefit ...

"Broker" defined Sec. 3. As used in this chapter, "broker" means a person lawfully engaged in the business of effecting transactions in securities or commodities, or ...

"Custodial property" defined Sec. 4. As used in this chapter, "custodial property" means: (1) an interest in property transferred to a custodian under this chapter; ...

"Custodian" defined Sec. 5. As used in this chapter, "custodian" means a person designated as a custodian under section 24 of this chapter or a successor ...

"Financial institution" defined Sec. 6. As used in this chapter, "financial institution" means a bank, trust company, savings institution, or credit union chartered and supervised under ...

"Guardian" defined Sec. 7. As used in this chapter, "guardian" has the meaning set forth in IC 29-3-1-6. As added by P.L.267-1989, SEC.2. ...

"Legal representative" defined Sec. 8. As used in this chapter, "legal representative" means an individual's personal representative or guardian. As added by P.L.267-1989, SEC.2. ...

"Members of the minor's family" defined Sec. 9. As used in this chapter, "member of the minor's family" means the minor's parent, stepparent, spouse, grandparent, brother, ...

"Minor" defined Sec. 10. As used in this chapter, "minor" means an individual who is less than twenty-one (21) years of age. As added ...

"Person" defined Sec. 11. As used in this chapter, "person" means an individual, corporation, organization, or other legal entity. As added by P.L.267-1989, SEC.2. ...

"Personal representative" defined Sec. 12. As used in this chapter, "personal representative" means an executor, administrator, successor personal representative, or special administrator of a decedent's estate ...

"State" defined Sec. 13. As used in this chapter, "state" includes a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, ...

"Transfer" defined Sec. 14. As used in this chapter, "transfer" means a transaction that creates custodial property under section 24 of this chapter. As ...

"Transferor" defined Sec. 15. As used in this chapter, "transferor" means a person who makes a transfer under this chapter. As added by P.L.267-1989, ...

"Trust company" defined Sec. 16. As used in this chapter, "trust company" means a financial institution, corporation, or other legal ...

Scope and jurisdiction Sec. 17. (a) This chapter applies to a transfer that refers to this chapter in the designation under section 24(a) of this chapter ...

Nomination of custodian Sec. 18. (a) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may ...

Transfer by gift or exercise of power of appointment Sec. 19. A person may make: (1) a transfer by irrevocable gift to; or (2) ...

Transfer authorized by will or trust Sec. 20. (a) A personal representative or trustee may make an irrevocable transfer under section 24 of this chapter to ...

Other transfers by fiduciary Sec. 21. (a) A personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for ...

Transfer by obligor Sec. 22. (a) A person not subject to section 20 or 21 of this chapter that holds property of or owes a liquidated ...

Receipt for custodial property Sec. 23. A written acknowledgement of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the ...

Manner of creating custodial property and effecting transfer; designation of initial custodian; control Sec. 24. (a) Custodial property is created and a transfer is made if: ...

Single custodianship Sec. 25. A transfer may be made only for one (1) minor, and only one (1) person may be the custodian. All custodial property ...

Validity and effect of transfer Sec. 26. (a) The validity of a transfer made in a manner prescribed in this chapter is not affected by: ...

Care of custodial property Sec. 27. (a) A custodian shall: (1) take control of custodial property; (2) register or record title to custodial property ...

Powers of custodian Sec. 28. (a) A custodian acting in a custodial capacity has all the rights, powers, and authority over custodial property ...

Use of custodial property; transfer of property to trust Sec. 29. (a) A custodian may deliver or pay to the minor or expend for the minor's ...

Custodian's expenses, compensation, and bond Sec. 30. (a) A custodian is entitled to reimbursement from custodial property for reasonable ...

Exemption of third person from liability Sec. 31. A person in good faith and without court order may act on the instructions of or otherwise deal ...

Liability to third person Sec. 32. (a) A claim based on: (1) a contract entered into by a custodian acting in a custodial capacity; ...

Renunciation, resignation, death, or removal of custodian; designation of successor custodian Sec. 33. (a) A person nominated under section 18 of this chapter or designated under ...

Accounting by and determination of liability of custodian Sec. 34. (a) A minor who is at least fourteen (14) years of age, the minor's guardian or ...

Termination of custodianship Sec. 35. The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the ...

Applicability Sec. 36. This chapter applies to a transfer within the scope of section 17 of this chapter made after this chapter's effective date: (1) ...

Effect on existing custodianships Sec. 37. (a) A transfer of custodial property made before July 1, 1989, is validated even if there was no specific authority ...

Uniformity of application and construction Sec. 38. This chapter shall be applied and construed to effectuate a general purpose to make uniform the law with respect ...

Severability Sec. 39. The provisions of this chapter are severable in the manner provided by IC 1-1-1-8(b). As added by P.L.267-1989, SEC.2. ...

Written election concerning custodial property Sec. 40. (a) If a transferor: (1) has transferred property to a custodian for the benefit of a minor ...

Applicability Sec. 1. (a) This chapter applies to a transfer or declaration creating a custodial trust that refers to this chapter if, at the time of ...

Transfer under other state's law; enforcement Sec. 2. A transfer made pursuant to an act of another state substantially similar to this chapter is governed by ...

Construction Sec. 3. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of ...

Citing chapter Sec. 4. This chapter may be cited as the "Indiana Uniform Custodial Trust Act". As added by P.L.3-2003, SEC.1. ...

"Adult" Sec. 5. As used in this chapter, "adult" means an individual who is at least eighteen (18) years of age. As added by ...

"Beneficiary" Sec. 6. As used in this chapter, "beneficiary" means an individual for whom property: (1) has been transferred to; or (2) is held ...

"Custodial trust property" Sec. 7. As used in this chapter, "custodial trust property" means the following: (1) An interest in property: (A) transferred to; ...

"Custodial trustee" Sec. 8. As used in this chapter, "custodial trustee" means a person designated as: (1) trustee; or (2) substitute or successor to ...

"Guardian" Sec. 9. As used in this chapter, "guardian" has the meaning set forth in IC 29-3-1-6. As added by P.L.3-2003, SEC.1. ...

"Incapacitated" Sec. 10. As used in this chapter, "incapacitated" has the meaning set forth in IC 29-3-1-7.5. As added by P.L.3-2003, SEC.1. ...

"Legal representative" Sec. 11. As used in this chapter, "legal representative" means a personal representative or guardian. As added by P.L.3-2003, SEC.1. ...

"Member of the beneficiary's family" Sec. 12. As used in this chapter, "member of the beneficiary's family" means a beneficiary's spouse, descendant, stepchild, parent, stepparent, grandparent, ...

"Person" Sec. 13. As used in this chapter, "person" means an individual, corporation, business trust, estate, trust, partnership, joint venture, association, or any other legal or ...

"Personal representative" Sec. 14. As used in this chapter, "personal representative" has the meaning set forth in IC 29-1-1-3. As added by P.L.3-2003, SEC.1. ...

"State" Sec. 15. As used in this chapter, "state" means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth ...

"Transferor" Sec. 16. As used in this chapter, "transferor" means a person who creates a custodial trust by transfer or declaration. As added by ...

"Trust company" Sec. 17. As used in this chapter, "trust company" means a financial institution, corporation, or other ...

Creating a custodial trust Sec. 18. (a) A person may create a custodial trust of property by a written transfer of the property to another person, ...

Terminating a custodial trust Sec. 19. (a) Except as provided in subsection (b), a transferor may not terminate a custodial trust. (b) A custodial trust ...

Adding trust property Sec. 20. A person may augment existing custodial trust property by the addition of other property under this chapter. As added ...

Successor custodial trustee Sec. 21. The transferor may: (1) designate; or (2) authorize the designation of; a successor custodial trustee in the trust ...

Creation and enforcement of trust under other law Sec. 22. (a) This chapter does not supersede or restrict other means of creating trusts. (b) A ...

Custodial trust upon occurrence of future event Sec. 23. (a) A person having the right to designate the recipient of property payable or transferable upon a ...

Custodial trustee's acceptance of trust property Sec. 24. (a) Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under this ...

Transfer for use and benefit of incapacitated individual Sec. 25. (a) Unless otherwise directed by an instrument designating a ...

Multiple beneficiaries Sec. 26. (a) Beneficial interests in a custodial trust created for multiple beneficiaries are considered to be separate custodial trusts of equal undivided interests ...

Custodial trustee's powers and duties Sec. 27. (a) If appropriate, a custodial trustee shall register or record the instrument vesting title to custodial trust property. ...

Rights and powers Sec. 28. (a) A custodial trustee acting in a fiduciary capacity has all the rights and powers over custodial trust property which an ...

Distribution of custodial trust property Sec. 29. (a) If a beneficiary is not incapacitated, the custodial trustee shall: (1) pay to the beneficiary; or ...

Administering custodial trust for incapacitated beneficiary Sec. 30. (a) The custodial trustee shall administer the custodial trust as for an incapacitated beneficiary if: (1) the ...

Reliance on person purporting to be custodial trustee Sec. 31. (a) A third person in good faith and without a court order may act on ...

Claim by third person against custodial trustee Sec. 32. (a) A claim based on: (1) a contract entered into by a custodial trustee acting in ...

Resigning or declining to serve as custodial trustee Sec. 33. (a) Before accepting the custodial trust property, a person designated as custodial trustee may decline to ...

Compensation of custodial trustee Sec. 34. Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court ...

Written statement of trust administration; petition for accounting Sec. 35. (a) Upon the acceptance of custodial trust property, the custodial trustee shall provide a written statement ...

Claim against custodial trustee's claim barred against other parties Sec. 36. (a) Except as provided in subsection (c), and unless previously barred by adjudication, consent, or ...

Termination of a custodial trust Sec. 37. (a) Upon termination of a custodial trust, the custodial trustee shall transfer the unexpended custodial trust property: (1) ...

Creating a custodial trust Sec. 38. (a) If a transaction, including a declaration with respect to or a transfer of specific property, otherwise satisfies applicable ...

Severability Sec. 39. The provisions of this chapter are severable in the manner provided by IC 1-1-1-8(b). As added by P.L.3-2003, SEC.1. ...

Agreement or contract; personal property, merchandise, or services; General Cemetery law Sec. 1. (a) Any payment of money made to any ...

Funeral trusts Sec. 1.5. (a) After June 30, 1978, but before July 1, 1982, an individual may establish one (1) funeral trust under this section, in ...

Deposit of funds; investments Sec. 2. All trust funds paid under section 1(a) of this chapter shall be deposited in a bank or trust company whose ...

Permits; fidelity bonds; accounts, books, and records Sec. 3. No person, firm, partnership, association, limited liability company, or corporation may accept or hold trust funds paid ...

Deposits or investments; interest or dividends; withdrawal; forfeiture Sec. 4. The amount or amounts deposited or invested, ...

Compensation and expenses of trustee Sec. 5. This chapter shall not be construed to prohibit a trustee under section 1(a) of this chapter ...

Liquidated damages Sec. 6. It shall be unlawful for any such agreement or agreements to provide for forfeiture and retention of payments upon any such agreement ...

False reports Sec. 7. A person who violates this chapter or makes any false and fraudulent report required under this chapter commits a Class B misdemeanor. ...

Partial invalidity of law Sec. 8. If any part or parts of this chapter shall be held unconstitutional, ...

Establishment Sec. 1. An individual may establish one (1) funeral trust under this chapter, in lieu of any other arrangements for advance payment for funeral and ...

Payments required to be made to accounts in certain banks, trust companies, and other institutions Sec. 2. It is unlawful to enter into any agreement or ...

Validity of trust; requirements Sec. 3. A funeral trust established under this chapter is valid only if it: (1) is irrevocable; (2) has only ...

Trustee; expenses and compensation Sec. 4. The trustee, in the administration of funds accepted under this chapter, may be reimbursed and receive from the funds its ...

Contracts; required provisions Sec. 5. The contract under which funds are accepted under this chapter must be in writing and contain, as a minimum, the following ...

Change of beneficiary; procedure Sec. 6. If the settlor changes the beneficiary, he must: (1) select a new beneficiary licensed under IC 25-15, or a ...

Delivery of copy of contract to settlor Sec. 7. (a) The settlor shall be furnished an executed copy of the contract. (b) If a contract ...

Management of funds by financial institutions; annual reports from beneficiaries Sec. 8. (a) Indiana financial institutions in which trust funds have been deposited in accordance with ...

Violations; offense Sec. 9. A person who knowingly violates this chapter commits a Class A misdemeanor. As added by Acts 1982, P.L.179, SEC.2. Amended ...

Incapacity, resignation, and removal of trustees Sec. 10. IC 30-4-3-29 governs procedures concerning the incapacity, resignation, or removal of a trustee. ...

Repealed ( Repealed by P.L.149-1991, SEC.6.) ...

Application of chapter Sec. 1. This chapter applies to an institutional fund. As added by P.L.268-1989, SEC.1. ...

"Community foundation or trust" defined Sec. 1.5. As used in this chapter, "community foundation or trust" means an organization, including: (1) a trust; (2) ...

"Endowment fund" defined Sec. 2. As used in this chapter, "endowment fund" means an institutional fund, or any part of the fund, not wholly expendable by ...

"Gift instrument" defined Sec. 3. As used in this chapter, "gift instrument" means a will, a deed, a grant, a conveyance, an agreement, ...

"Governing board" defined Sec. 4. As used in this chapter, "governing board" means the body responsible for the management of an institution or of an institutional ...

"Institution" defined Sec. 5. As used in this chapter, "institution" means any of the following: (1) An approved institution of higher learning (as defined in ...

"Institutional fund" defined Sec. 6. (a) As used in this chapter, "institutional fund" means a fund held by an institution for its exclusive use, benefit, or ...

Board resolution adopting chapter provisions Sec. 7. The governing board may operate under this chapter with respect to an institutional fund only if the governing board ...

Expenditure of endowment fund assets; determination of fund historic value Sec. 8. (a) The governing board may appropriate for expenditure for the uses and ...

Restriction on expenditure of net appreciation of fund assets; implied restrictions Sec. 9. Section 8 of this chapter does not apply if the applicable gift instrument ...

Investment and management of institutional fund assets Sec. 10. In addition to an investment otherwise authorized by law or by the applicable gift instrument, and without ...

Investment powers of board Sec. 11. Except as otherwise provided by the applicable gift instrument or by applicable law relating to institutions or institutional funds, the ...

Board's duty of ordinary business care and prudence Sec. 12. In operating under this chapter, the governing board shall exercise ordinary business care and prudence under ...

Release of restrictions on use or investment of institutional funds; cy pres doctrine Sec. 13. (a) With the written consent of the donor, the governing board ...

Applicability of chapter Sec. 1. (a) Except as provided in subsection (b), this chapter applies to any written agreement between a purchaser and a seller that ...

"Agent" defined Sec. 2. As used in this chapter, "agent" means a person authorized by a seller to offer, sell, or solicit the sale of a ...

"At-need services and merchandise" defined Sec. 2.5. (a) As used in this chapter, "at-need services and merchandise" includes personal property or services: (1) listed in ...

"Board" defined Sec. 3. As used in this chapter, "board" refers to the state board of funeral and cemetery service established by IC 25-15-9-1. ...

"Contract" defined Sec. 4. As used in this chapter, "contract" means a written agreement between a purchaser and a seller that: (1) obligates ...

"Delivery" defined Sec. 5. As used in this chapter, "delivery" means the time when: (1) services are performed in connection with the funeral or other ...

"Fund" defined Sec. 6. As used in this chapter, "fund" refers to the preneed consumer protection fund established by section 28 of this chapter. ...

"Insurance policy" defined Sec. 7. As used in this chapter, "insurance policy" means a policy providing one (1) or more of the types of insurance described ...

"Prepaid services or merchandise" or "services or merchandise" defined Sec. 8. As used in this chapter, "prepaid services or merchandise" or "services or merchandise" includes personal ...

"Purchaser" defined Sec. 9. (a) Except as provided in subsection (b), as used in this chapter, "purchaser" means a person or firm contracting with a seller ...

"Seller" defined Sec. 10. As used in this chapter, "seller" means a person doing business as a sole proprietor, a firm, a limited liability company, a ...

"Trustee" or "escrow agent, acting as a fiduciary" defined Sec. 11. (a) As used in this chapter, "trustee" or "escrow agent, acting as a fiduciary", means ...

"Cash advance item" defined Sec. 11.5. (a) As used in this chapter, "cash advance item" means an item of property, or services, or merchandise that is ...

Contracts Sec. 12. (a) This section applies to contracts for prepaid services or merchandise, or both, entered into under this chapter before January 1, 1996. ...

Contracts entered into after December 31, 1995, and before July 1, 1999 Sec. 12.1. (a) This section applies to contracts for prepaid services or merchandise, ...

Contracts entered into after June 30, 1999 Sec. 12.5. (a) This section applies to the following contracts entered into or established under this chapter after June ...

Designation of successor sellers Sec. 13. (a) Notwithstanding section 10 of this chapter, as used in this section, "seller" means an individual, a person doing business ...

Conversion of trust or escrow agreement; change in method of funding; new or successor trustee or escrow agent Sec. 14. (a) A trust or an escrow ...

Loss of certificate of authority or license by seller; notice to purchaser; selection of new seller; ...

Sale, consolidation, merger, disposal, or lease of assets in bulk; designation of successor Sec. 16. (a) Except for sales of stock or merchandise in the ordinary ...

Successors to seller; obligations Sec. 17. A seller may not sell the seller's stock, business, or assets, transfer assets, merge or consolidate, in whole or in ...

Compensation and expenses of trustee; withdrawal of tax liability Sec. 18. A trustee or an escrow agent may be reimbursed for necessary expenses and be paid ...

Common trust fund Sec. 19. (a) A trustee may place trust money in a common or commingled trust fund under a single trust instrument. (b) ...

Funeral service contracts; ratification by funeral director Sec. 20. If an agent and a purchaser execute a contract covering funeral services (as defined in IC 25-15), ...

Agents of seller; seller liability; written statement Sec. 21. A seller who solicits for or enters into a contract under this chapter must satisfy the following ...

Seller bond or permit Sec. 22. A bond or permit is not required of a seller except as specifically required in this chapter. As ...

Contracts; invalid provisions Sec. 23. A contract is invalid if the contract allows the purchaser the right to: (1) convert, substitute, or exchange the purchase ...

Seller or agent; prohibited acts Sec. 24. A seller or an agent may not knowingly do the following: (1) Except on request ...

Solicitation of sales; conditions Sec. 25. Solicitation of a sale of prepaid services or merchandise is permitted by a seller or an agent of a seller ...

Confidentiality of contracts Sec. 26. During the lifetime of the purchaser the contract executed under this chapter is confidential and neither the seller nor the trustee ...

Payments to board Sec. 27. Each seller of a prepaid contract under this chapter shall pay to the board on a form provided by it not ...

Preneed consumer protection fund; establishment; funding Sec. 28. (a) The preneed consumer protection fund is established. The board shall deposit receipts under section 27 of this ...

Use of money in fund Sec. 29. (a) Money in the fund may be used to provide restitution to a seller who performs a defaulted contract, ...

Seller records and books Sec. 30. (a) The seller shall maintain accurate records, books, and accounts for each contract sold under this chapter containing the following: ...

Annual report Sec. 31. (a) A seller who is required to register under this article, a cemetery under IC 25-15-9-17, a funeral home under IC 25-15, ...

General price list Sec. 32. A seller of: (1) prepaid services or merchandise; or (2) at-need services or merchandise; shall maintain for display ...

Certificates of authority Sec. 33. (a) A seller may not sell or provide prepaid services or merchandise or a contract designed to provide a funding mechanism ...

Rules Sec. 34. The board may adopt rules under IC 4-22-2 to implement this chapter. As added by P.L.200-1991, SEC.1. ...

Seller misrepresentation Sec. 35. It is a violation of this chapter for a seller to misrepresent the character, quality, durability, or suitability for a specific or ...

Suspension of certificates of authority; fines Sec. 36. The board may suspend the certificate of authority of a seller who violates a provision of this chapter. ...

Repealed ( Repealed by P.L.207-1993, SEC.35.) ...

Uncured deceptive acts; violations; injunctive relief; private right of action Sec. 38. (a) A seller who violates a provision of this chapter commits an uncured deceptive ...

"Accounting period" defined Sec. 1. As used in this chapter, "accounting period" means a calendar year unless another twelve (12) month period is selected by a ...

"Beneficiary" defined Sec. 2. As used in this chapter, "beneficiary" includes, in the case of: (1) a decedent's estate, an heir, and a devisee; and ...

"Fiduciary" defined Sec. 3. As used in this chapter, "fiduciary" means a personal representative or a trustee. The term includes an ...

"Income" defined Sec. 4. As used in this chapter, "income" means money or property that a fiduciary receives as current return from a principal asset. The ...

"Income beneficiary" defined Sec. 5. As used in this chapter, "income beneficiary" means a person to whom net income of a trust is or may be ...

"Income interest" defined Sec. 6. As used in this chapter, "income interest" means the right of an income beneficiary to receive all or part of net ...

"Mandatory income interest" defined Sec. 7. As used in this chapter, "mandatory income interest" means the right of an income beneficiary to receive net income that ...

"Net income" defined Sec. 8. As used in this chapter, "net income" means the total receipts allocated to income during an accounting period minus the disbursements ...

"Person" defined Sec. 9. As used in this chapter, "person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government; ...

"Principal" defined Sec. 10. As used in this chapter, "principal" means property that is held in trust for distribution to a remainder beneficiary when the trust ...

"Remainder beneficiary" defined Sec. 11. As used in this chapter, "remainder beneficiary" means a person entitled to receive principal when an income interest ends. As ...

"Terms of a trust" defined Sec. 12. As used in this chapter, "terms of a trust" means the manifestation of the intent of a settlor or ...

"Trustee" defined Sec. 13. As used in this chapter, "trustee" includes an original, additional, or successor trustee, whether or not ...

Allocating receipts and disbursements between principal and income Sec. 14. (a) The following applies to a fiduciary in allocating receipts and ...

Power of trustee to adjust between principal and income Sec. 15. (a) A trustee may adjust between principal and income to the extent the trustee considers ...

Notice of proposed action Sec. 16. (a) A trustee may give a notice of proposed action regarding a matter governed by this chapter as set forth ...

Discretionary powers of fiduciary; failure to exercise power; remedies Sec. 17. (a) A court shall not change ...

Distributions to beneficiaries; payment of fees and costs Sec. 18. After an individual dies, in the case of an estate, or after an income interest in ...

Beneficiary's share of net income Sec. 19. (a) Each beneficiary described in section 18(4) of this chapter is entitled to receive a portion of the net ...

Income interest; asset subject to trust Sec. 20. (a) An income beneficiary is entitled to net income from the date on which the income interest begins. ...

Income receipts and disbursements Sec. 21. (a) A trustee shall allocate an income receipt or disbursement other ...

Termination of mandatory income interest Sec. 22. (a) As used in this section, "undistributed income" means net income received before the date on which an income ...

Receipts from an entity Sec. 23. (a) As used in this section, "entity" means a corporation, partnership, limited liability company, regulated investment company, real estate investment ...

Distributions of principal and income from trust or estate Sec. 24. A trustee shall allocate to: (1) income an amount received as a distribution of ...

Separate accounting records for business or activity Sec. 25. (a) If a trustee who conducts a business or other activity determines that it is in the ...

Receipts and property allocated to principal Sec. 26. A trustee shall allocate to principal: (1) to the extent not allocated to income under this chapter, ...

Rental property receipts Sec. 27. To the extent that a trustee accounts for receipts from rental property under this section, the trustee shall allocate to income ...

Obligation to pay money to trustee Sec. 28. (a) An amount received as interest, whether determined at a fixed, variable, or floating rate, on an obligation ...

Life insurance policy proceeds; proceeds of other contracts Sec. 29. (a) Except as otherwise provided in subsection (b), a trustee shall allocate to principal the proceeds ...

Insubstantial allocation between principal and income Sec. 30. If a trustee determines that an allocation between principal and income ...

Allocating payments to principal or income Sec. 31. (a) This section does not apply to payments to which section 32 of this chapter applies. (b) ...

Receipts from liquidating asset Sec. 32. (a) As used in this section, "liquidating asset" means an asset whose value will diminish or terminate because the asset ...

Receipts from an interest in minerals or other natural resources Sec. 33. (a) To the extent that a trustee accounts for receipts from an interest in ...

Net receipts from the sale of timber and related products Sec. 34. (a) To the extent that a trustee accounts for receipts from the sale of ...

Marital deduction for trust assets Sec. 35. (a) If: (1) a marital deduction is allowed for all or part of a trust whose assets consist ...

Transactions in derivatives; granting, acquiring, or exercising an option Sec. 36. (a) As used in this section, "derivative" means a contract or financial instrument or a ...

Asset backed securities Sec. 37. (a) As used in this section, "asset backed security" means an asset whose value is based upon the right it gives ...

Disbursements from income Sec. 38. A trustee shall make the following disbursements from income to the extent that they are not disbursements to which section 18(2)(B) ...

Disbursements from principal Sec. 39. (a) A trustee shall make the following disbursements from principal: (1) the remaining one-half (1/2) of the disbursements described in ...

Principal asset subject to depreciation Sec. 40. (a) As used in this section, "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or ...

Principal disbursements; income transfers to reimburse principal or create principal disbursement reserve Sec. 41. (a) If a trustee makes or expects to make a principal disbursement ...

Tax payments Sec. 42. (a) A tax required to be paid by a trustee based on receipts allocated to income must be paid from income. ...

Adjustments to offset shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries Sec. 43. (a) A fiduciary may make adjustments between principal ...

Uniformity of the law Sec. 44. In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law ...

"Current valuation year" Sec. 1. As used in this chapter, "current valuation year" means the year of the trust for which the unitrust amount is being ...

"Income trust" Sec. 2. As used in this chapter, "income trust" means a trust created by an inter vivos or a testamentary instrument that has terms ...

"Net fair market value" Sec. 3. As used in this chapter, "net fair market value" means the fair market value of each asset comprising the trust ...

"Total return unitrust" Sec. 4. As used in this chapter, "total return unitrust" means an income trust that has been converted to a total return unitrust ...

"Trustee" Sec. 5. As used in this chapter, "trustee" refers to the: (1) trustee of a trust; or (2) if at least two (2) ...

"Unitrust amount" Sec. 6. As used in this chapter, "unitrust amount" means an amount computed as a percentage of the fair market value of the trust ...

"Unitrust rate" Sec. 7. As used in this chapter, "unitrust rate" means the percentage of the fair market value ...

"Year" Sec. 8. As used in this chapter, "year" means a calendar year. As added by P.L.3-2003, SEC.2. ...

Trustee's power to convert trust, reconvert trust, and change unitrust rate Sec. 9. A trustee may: (1) release the trustee's power to adjust between trust ...

Acting without court approval Sec. 10. (a) Unless expressly prohibited in the governing trust instrument, and if the trustee would not be ...

Petition by trustee Sec. 11. If a trustee: (1) receives an objection under section 10 of this chapter; (2) elects not to proceed under ...

Petition by trust beneficiary Sec. 12. A trust beneficiary described in IC 30-2-14-16(b) may petition the court having jurisdiction of the trust to order the trustee ...

When court shall approve conversion, reconversion, or change in rate Sec. 13. If the court finds that the conversion, reconversion, or change in the unitrust rate ...

Reconversion's release of power to adjust void Sec. 14. This section applies if a total return unitrust is reconverted ...

Conversion to unitrust; unitrust rate Sec. 15. (a) When a trustee gives notice of a proposed action under section 10 of this chapter to convert a ...

Unitrust amount; initial two years of trust Sec. 16. For the first two (2) years of the trust or the first two (2) years after the ...

Unitrust amount; successive years Sec. 17. Beginning with the third year of the trust, and each year after that year, the unitrust amount for a current ...

Net fair market value of unitrust assets Sec. 18. In determining the net fair market value of each asset held in the trust under sections 16 ...

Trustee powers Sec. 19. (a) The trustee may exclude any assets for which the fair market value is not readily determinable from the determination of net ...

Prohibited reduction in unitrust amount Sec. 20. The unitrust amount may not be reduced for expenses that would be deducted from income if the trust were ...

Adjusting net fair market values of assets Sec. 21. For purposes of section 16 of this chapter, the net fair market values of the assets held ...

Prorating unitrust amount in short year Sec. 22. (a) As used in this section, "short year" refers to a part of a calendar year that: ...

Unitrust amount's satisfying tax law requirement of preserving tax benefit Sec. 23. (a) This section applies to the following trusts: (1) A trust for which ...

Construing the governing instrument Sec. 24. After the income trust is converted to a total return unitrust under this chapter, both of the following apply: ...

Paying the unitrust amount Sec. 25. (a) Except as provided in subsection (b), and unless otherwise provided by the governing instrument, the unitrust amount shall be ...

Immunity of trustee Sec. 26. (a) A trustee who in good faith acts or fails to act under section 9 of this chapter is not ...

"Participant" Sec. 1. As used in this chapter, "participant" means an individual who has accumulated a balance of funds with a payroll savings plan administrator through ...

"Payroll savings plan" Sec. 2. As used in this chapter, "payroll savings plan" means a method provided by an employer to the employer's employees for the ...

"Payroll savings plan administrator" Sec. 3. As used in this chapter, "payroll savings plan administrator" means an organization that: (1) has been qualified by the ...

"Static balance" Sec. 4. As used in this chapter, "static balance" means an amount held by a payroll savings plan administrator for a participant who: ...

Static balance administration services; reimbursement of administrator Sec. 5. Subject to this chapter, a payroll savings plan administrator is entitled to reimbursement from a static balance ...

Applicability of reimbursement provision Sec. 6. Section 5 of this chapter applies only to an account in which the static balance does not exceed fifty dollars ...

Static balance accounts reportable as unclaimed property; inapplicability of reimbursement provisions Sec. 7. Section 5 of this chapter does not apply to accounts containing a static ...

Static balance account; maximum monthly charge Sec. 8. The maximum charge that may be imposed on an account with a static balance is one dollar ($1) ...

Repealed ( Repealed by Acts 1971, P.L.416, SEC.8.) ...

Order of court; time Sec. 1. In any case where real estate is to be sold under the orders of any court of competent jurisdiction, and ...

Application of chapter; home for indigent women, worthy poor, or orphaned children Sec. 1. Notwithstanding IC 30-4-2-2 and IC 30-4-3-33, ...

Determination by board of commissioners to relinquish trust Sec. 2. If the board of commissioners determines: (1) that the amount of money or property given, ...

Certifying transcript of finding; recording Sec. 3. The auditor of a county in which the board of commissioners ...

Definition of "trust"; relationships excluded from this article; transferability of employee benefit trust Sec. 1. (a) A trust is a fiduciary relationship between a person who, ...

IC 30-2-4 and IC 30-2-5 not repealed Sec. 1.5. This article does not repeal: (1) IC 30-2-4 (the Uniform Fiduciaries Act); or (2) ...

Other definitions Sec. 2. As used in this article: (1) "Adult" means any person eighteen (18) years of age or older. (2) "Affiliate" means ...

Application and interpretation of rules of law and terms of trust Sec. 3. (Application and Interpretation of the Rules of Law and the Terms of the ...

Application of this article with respect to pre-existing trusts Sec. 4. (Application of the Article with Respect to Pre-Existing Trusts) Except as provided elsewhere ...

Construction of pronouns Sec. 5. (Construction of Pronouns) A pronoun used in this article may be construed, unless the context requires otherwise, without regard to ...

Construction of singular number Sec. 6. (Construction of Singular Number) Any word appearing in the singular number in this article may be construed as plural, ...

Trust Code Study Commission report Sec. 7. (Trust Code Study Commission Report) The report of the Trust Code Study Commission made according to IC 1971, ...

Effect of requirement of exercising power of appointment by reference Sec. 8. If a trust creating a power of appointment ...

Specific indication of power of appointment required Sec. 9. A trust shall not operate as to the exercise of a power of appointment, which the settlor ...

Distribution under laws of intestate succession when manner not specified Sec. 10. If a distribution in favor of "descendants", "issue", or "heirs of the body" does ...

Choice of law Sec. 11. The meaning and legal effect of a distribution under a trust shall be determined by the law of the state selected ...

Persons born out of wedlock Sec. 12. In construing a trust making a distribution to a person described by relationship to the settlor or to another ...

Applicability of constructive trust provisions Sec. 13. IC 29-1-2-12.1 applies to a trust. As added by P.L.238-2005, SEC.20. ...

Version a Written evidence of terms; definite terms; validity of inter vivos trust Note: This version of section effective until 1-1-2006. See also following ...

Version b Written evidence of terms; definite terms; validity of inter vivos trust; existence of trust beneficiaries; creation of trust by exercise of power of appointment ...

Trust not created by will; requirements Effective 1-1-2006. Sec. 1.5. (a) Except as provided in subsection (b), a trust that is ...

Version a Acceptance by trustee Note: This version of section effective until 1-1-2006. See also following version of this section, effective 1-1-2006. ...

Version b Acceptance by trustee Note: This version of section effective 1-1-2006. See also preceding version of this ...

Repealed ( Repealed by P.L.293-1983, SEC.2.) ...

Repealed ( Repealed by P.L.293-1983, SEC.2.) ...

Life insurance trusts Sec. 5. (Life Insurance Trusts) Proceeds of life insurance policies heretofore made payable to a trustee or trustees named as beneficiary or ...

Nature of trustee's estate Sec. 6. (Nature of the Trustee's Estate) (a) The trustee takes the title to the trust property. (b) The extent ...

Nature of beneficiary's estate Sec. 7. (Nature of the Beneficiary's Estate) (a) The beneficiary takes an equitable interest ...

Merger of estates Sec. 8. (a) If the settlor transfers both the title and the entire equitable interest in property to the same person as both ...

Necessity of powers or duties Sec. 9. (Necessity of Powers or Duties) Subject to 30-4-2-13, if the trustee has neither a power nor a duty ...

Version a Capacity of settlor Note: This version of section effective until 1-1-2006. See also following version of this section, effective 1-1-2006. ...

Version b Capacity of settlor Note: This version of section effective 1-1-2006. See also preceding version of this section, ...

Capacity of trustee Sec. 11. (Trustee's Capacity) (a) If the trustee is a natural person, he must have the capacity to take, hold, and deal ...

Illegality Sec. 12. (Illegality) (a) The terms of the trust may not require the trustee to commit a criminal or tortious act or an act ...

Application of statute of uses Sec. 13. (Application of Statute of Uses) If the trust property includes real property, and, under the terms of the ...

Assignment of beneficiary's interest Sec. 14. (Assignment of Beneficiary's Interest) (a) If the terms of the trust give the trustee the power to sell the ...

Divorce or annulment of marriage; effect on revocable trust Sec. 15. (a) This section does not apply to a trust: (1) that is irrevocable on ...

Election by surviving spouse to take share against settlor's will; distribution of remainder Sec. 16. (a) This section applies to: (1) property in a trust ...

Valid purposes of charitable trust; selection of purpose or beneficiary if not specified by trust Sec. 17. (a) A charitable trust ...

Trust for care of animal Sec. 18. (a) A trust may be created to provide for the care of an animal alive during the settlor's lifetime. ...

Trust for noncharitable purpose Sec. 19. (a) Except as provided in section 18 of this chapter, a trust may be created for a: (1) noncharitable ...

Construction Sec. 1. In the absence of a contrary intent appearing in the trust, a trust shall be construed in accordance with the rules in this ...

Adopted children Sec. 2. (a) Except as provided in subsection (b), in construing a trust naming as beneficiary a person described by relationship to the settlor ...

No contest provision void Sec. 3. A provision in a trust that provides, or has the effect of providing, that a beneficiary forfeits a benefit from ...

Children born after trust's creation Sec. 4. (a) Except as provided in subsection (b) and section 5 of this chapter, when a settlor fails to provide ...

Mistaken belief that settlor's child deceased Sec. 5. (a) Except as provided in subsection (b), if, at the time of the making of the trust, the ...

Void, revoked, or lapsed devise Sec. 6. If a devise of real or personal property, not included in the residuary clause of the trust: (1) ...

Beneficiary predeceases settlor Sec. 7. (a) As used in this section, "descendant" includes the following: (1) A child adopted before the child is twenty-one (21) ...

Kindred of the half blood Sec. 8. Kindred of the half blood are entitled to receive the same trust interest that they would have received if ...

Applicability of adultery and abandonment forfeiture provisions Sec. 9. A trust of a deceased spouse is subject to the following: (1) IC 29-1-2-14. (2) ...

Written statement or list disposing of tangible personal property Sec. 11. (a) A written statement or list that: (1) complies with this section; and ...

Repealed ( Repealed by P.L.238-2005, SEC.63.) ...

Revocation or amendment of trust by settlor Sec. 1.5. (a) This subsection applies to a trust created under an instrument executed after June 30, 2005. Unless ...

Power to restrain transfer of a beneficiary's interest Sec. 2. (a) The settlor may provide in the terms of the trust that the interest ...

Powers of trustees Sec. 3. (a) Except as provided in the terms of the trust and subject to subsection (c), a trustee has the power to ...

Exercise of powers by multiple, successor, or surviving trustees Sec. 4. (Exercise of Powers by Multiple, Successor, or Surviving Trustees) Unless the terms of ...

Conflict of interest in exercise of powers Sec. 5. (Conflict of Interest in Exercise of Powers) (a) If the duty of the trustee in the ...

Duties of trustee Sec. 6. (a) The trustee has a duty to administer a trust according to its terms. (b) Unless the terms of the ...

Liability of trustee for lack of knowledge of event affecting administration or distribution of trust Sec. 6.5. ...

Self-dealing; transactions between trusts Sec. 7. (a) Unless the terms of the trust provide otherwise, the trustee has a duty: (1) not to loan funds ...

Duties of co-trustees Sec. 8. (Duties of Co-Trustee) Unless the terms of the trust provide otherwise, if there are two (2) or more trustees, ...

Duty of trustee under control of third persons Sec. 9. (Duty of Trustee under Control of Third Person) (a) If the terms of the trust ...

Liability to third persons Sec. 10. (Liability to Third Persons) (a) Unless the terms of the contract or other non-negotiable obligation expressly provide otherwise, the ...

Liability of the trustee to the beneficiary Sec. 11. (Liability of the Trustee to the Beneficiary) (a) The trustee is accountable to the beneficiary for ...

Liability for breach of trust by co-trustee Sec. 12. (Liability for Breach of Trust by Co-Trustee) A trustee becomes liable to the beneficiary for a ...

Liability of a successor trustee Sec. 13. (Liability of a Successor Trustee) A successor trustee becomes liable for a breach of trust of his predecessor ...

Contribution and indemnity Sec. 14. (Contribution and Indemnity) (a) Except as stated in subsection (b) of this section, if two (2) or more co-trustees are ...

Remedies of trustee against third persons Sec. 15. (Remedies of the Trustee against Third Persons) The trustee may maintain in his representative capacity a civil action ...

Remedies among co-trustees Sec. 16. (Remedies among Co-Trustees) Any trustee may maintain an action against a co-trustee to: (a) compel him to perform his ...

Remedies of trustee against beneficiary Sec. 17. (Remedies of Trustee against Beneficiary) The trustee may maintain a civil action against a beneficiary for any legal ...

Other remedies of the trustee Sec. 18. (Other Remedies of the Trustee) (a) If there is reasonable doubt with respect to any matter relating to ...

Relief of trustee's liability for breach of trust Sec. 19. (Relief of Trustee's Liability for Breach of Trust) (a) Unless the terms of the trust ...

Liability of beneficiary Sec. 20. (Liability of Beneficiary) (a) A beneficiary is liable for loss to the trust estate if he has: (1) misappropriated ...

Remedies of beneficiary against third persons Sec. 21. (Remedies of the Beneficiary against Third Persons) If the trustee has a claim against a third person ...

Remedies of the beneficiary against the trustee Sec. 22. (Remedies of the Beneficiary against the Trustee) (a) A beneficiary of a trust may maintain an ...

Remedy of a beneficiary against a co-beneficiary Sec. 23. (Remedy of a Beneficiary against a Co-Beneficiary) (a) If no recovery can be made from the ...

Repealed ( Repealed by P.L.238-2005, SEC.63.) ...

Modification or termination of trust by court Sec. 24.4. (a) The court may modify the administrative or dispositive ...

Termination by trustee of trust with value less than $75,000 Sec. 24.5. (a) This section does not apply to an easement for conservation or preservation. ...

Rescission and reformation Sec. 25. (Recission and Reformation) Upon petition by an interested party, the court may rescind or reform a trust according to the ...

Power to direct a deviation from the terms of the trust Sec. 26. (Power to Direct a Deviation from the Terms of the Trust) ...

Cy pres doctrine Sec. 27. (a) If property is given to a trust for a benevolent public purpose and the property is to be applied to ...

Repealed ( Repealed by P.L.238-2005, SEC.63.) ...

Removal, resignation, and appointment of trustees Sec. 29. (a) A trustee may be removed as follows: (1) By the court. (2) By the person, ...

Corporate trustee that acquires trust due to change in control Sec. 29.5. (a) Except as provided in subsection (b) and unless the trust instrument provides otherwise, ...

Effect of this article on the court's equity powers Sec. 30. (Effect of This Article on the Court's Equity Powers) Except as otherwise provided in this ...

Judicial modification of trusts for benevolent public purpose and certain transfers not in trust; federal compliance Sec. 31. (a) This section is enacted for the purpose ...

Trustee's liability for breach of trust Sec. 32. (a) Except as stated in subsections (b) and (c), the trustee, by provisions of the trust, can be ...

Trustee vacancies; priority for filling vacancy Sec. 33. (a) In addition to the terms of a trust regarding the circumstances under which a trustee ...

Petition to determine heirs and interests in trust estate Sec. 34. (a) At any time during the administration of a trust, a trustee or any interested ...

Compliance with prudent investor rule Sec. 1. (a) Except as otherwise provided in subsection (b), a trustee who invests and manages trust assets owes a duty ...

Prudent investor rule Sec. 2. (a) A trustee shall invest and manage trust assets as a prudent investor would, by considering ...