Trustee; removal; vacancy
Sec. 19. (a) The judge of the circuit court may, upon the petition
of a creditor or the assignor, remove a trustee under this chapter for
good cause shown and appoint a successor.
(b) If a vacancy occurs by death, resignation, or removal of a
trustee from Indiana, the judge may fill the vacancy and shall order
a trustee who is removed to surrender all property in the trustee's
hands belonging to the trust to the successor. The court may require
a trustee removed under this section to pay to the clerk of the court
all money in the trustee's hands, and on or before the next term, the
trustee shall make and file a full and final report showing the
condition of the trust and the trustee's management of the trust while
under the trustee's control. If the court is satisfied with the report and
the trustee has fully complied with this chapter and paid all money
in the trustee's hands to the clerk of the court, the court may
discharge the trustee.
As added by P.L.2-2002, SEC.3.
Last modified: May 24, 2006