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 with property for his own benefit and must be at
least eighteen (18) years of age, be of sound mind and of good moral
character.
(b) If the trustee is a corporation, it must have the power to take,
hold, and deal with property for its own benefit and have the power
to act as a trustee.
(c) Subject to IC 1971, 30-4-2-8, the fact that the person named to
be trustee is also a beneficiary will not disqualify him from acting as
trustee if he is otherwise qualified.
(Formerly: Acts 1971, P.L.416, SEC.3; Acts 1973, P.L.293, SEC.6.)
Last modified: May 27, 2006