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 the transfer or declaration: (1) the transferor, beneficiary, or custodial trustee: (A) is a resident of; or (B) has its principal place of business in Indiana; or (2) custodial trust property is located in Indiana. (b) The custodial trust remains subject to this chapter even if the transferor, beneficiary, or custodial trustee: (1) changes its residence or principal place of business; or (2) removes custodial trust property; to a location outside Indiana. As added by P.L.3-2003, SEC.1.