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 principal office is in
this state, or invested in a savings and loan, or building and loan
association whose principal office is in this state, in the name of the
trustee, as trustee, within thirty (30) days after receipt thereof, and
shall be held by such trustee in trust, subject to the provisions of this
chapter.
(Formerly: Acts 1963, c.303, s.2.) As amended by Acts 1978,
P.L.133, SEC.3.
Last modified: May 27, 2006