Title 30, TRUSTS AND FIDUCIARIES

Sec. 2. A corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as fiduciary is not bound to inquire into the existence, extent, or correct description of the fiduciary relationship; and thereafter the corporation and …

Sec. 3. Except as otherwise provided in this chapter, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary: (a) may assume without inquiry that the assignment, even though to the fiduciary himself or to his nominee, is within hi…

Sec. 4. A corporation or transfer agent making a transfer pursuant to an assignment by a fiduciary who is not the registered owner shall obtain the following evidence of appointment or incumbency: (a) In the case of a fiduciary appointed or qualified by a court, a certificate iss…

Sec. 5. (a) A person asserting a claim of beneficial interest adverse to the transfer of a security pursuant to an assignment by a fiduciary may give the corporation or transfer agent written notice of the claim. The corporation or transfer agent is not put on notice unless the w…

Sec. 6. A corporation or transfer agent incurs no liability to any person by making a transfer or otherwise acting in a manner authorized by this chapter. Formerly: Acts 1961, c.124, s.6. As amended by Acts 1982, P.L.171, SEC.99.

Sec. 7. (a) No person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary, including a person who guarantees the signature of the fiduciary, is liable for participation in any breach of fiduciary duty by reason of failure to…

Sec. 8. (a) The rights and duties of a corporation and its transfer agents in registering a security in the name of a fiduciary or in making a transfer of a security pursuant to an assignment by a fiduciary are governed by the law of the jurisdiction under whose laws the corporat…

Sec. 9. This chapter does not affect any obligation of a corporation or transfer agent with respect to estate, inheritance, succession, or other taxes imposed by the laws of this state. Formerly: Acts 1961, c.124, s.9. As amended by Acts 1982, P.L.171, SEC.102.

Sec. 0.5. The Uniform Principal and Income Act (IC 30-2-14) applies to the administration of a trust under this article. As added by P.L.84-2002, SEC.4.

Sec. 12. (a) Unless the terms of the trust provide otherwise or unless waived in writing by an adult, competent beneficiary, the trustee shall deliver a written statement of accounts to each income beneficiary or the income beneficiary's personal representative annually. The stat…

Sec. 13. (a) A verified written statement of accounts filed with the court under 30-4-5-12 or by the trustee under 30-4-3-18(b) shall show: (1) the period covered by the account; (2) the total principal with which the trustee is chargeable according to the last preceding written …

Sec. 14. (Settlements; Objections; Hearing; Surcharge) (a) With respect to the annual written statement required by 30-4-5-12(a), a beneficiary or his personal representative will be deemed to have discharged the trustee from liability as to that beneficiary for all matters discl…

Sec. 14.5. (a) A trustee may obtain a nonjudicial settlement of its accounts in accordance with subsection (b) when: (1) a trust terminates pursuant to the terms of the trust; (2) a trust terminates early pursuant to IC 30-4-3-24.5; (3) a trustee resigns or is removed; or (4) a t…

Sec. 15. (Judgment; Fees) (a) Subject to the right of appeal, a judgment rendered by the court under 30-4-5-14, either approving the statement or disapproving it and surcharging the trustee, is final, conclusive and binding upon all the parties to the action who are subject to th…

Sec. 16. (a) Unless the terms of the trust provide otherwise, and except as provided in section 17 of this chapter, the trustee is entitled to reasonable compensation from the trust estate for acting as trustee. (b) If the terms of the trust specify the trustee's compensation, th…

Sec. 17. (Compensation if Trustee Breaches Trust) (a) In a proceeding in which the trustee is found to be in breach of trust, the court may in its discretion either deny him all compensation, allow him a reduced compensation, or allow him full compensation. (b) In the exercise of…

Sec. 18. Subject to section 20 of this chapter, every corporation which is organized under the laws of this state and which is a private foundation as defined in Section 509(a) of the Internal Revenue Code shall, unless otherwise provided in the articles of incorporation of such …

Sec. 19. The provisions of 30-4-5-18 shall not apply to any such corporation organized before January 1, 1970, to the extent that a court of competent jurisdiction shall determine that application of such section to such corporation would be contrary to the terms of any instrumen…

Sec. 20. The provisions of 30-4-5-18 shall be effective as to corporations to which such section applies in accordance with the following subsections (a) and (b): (a) With respect to each such corporation organized on or after January 1, 1970, the provisions of 30-4-5-18 shall be…

Sec. 21. Subject to the provisions of this section and of section 23 of this chapter, every trust for a benevolent public purpose that is subject to the provisions of Subchapter A of Chapter 42 of Subtitle D of the Internal Revenue Code shall: (1) distribute each taxable year amo…

Sec. 22. The provisions of 30-4-5-21 shall not apply to any such trust created before January 1, 1970, to the extent that a court of competent jurisdiction shall determine that application of such section to such trust would be contrary to the terms of any instrument which may no…

Sec. 23. The provisions of 30-4-5-21 shall be effective as to trusts to which such section applies in accordance with the following subsections (a) and (b): (a) With respect to each such trust first existing on or after January 1, 1970, the provisions of 30-4-5-21 shall be effect…

Sec. 25. (a) As used in this section, "interested person" means a person whose consent would be required to achieve a binding settlement were the settlement to be approved by the court. (b) Except as provided in subsection (c), an interested person may enter into a binding nonjud…

Sec. 26. (a) If the trustee has the full, unrestricted power to alienate trust property and the trust expressly states that this exception applies to the trust, IC 32-17-8-3 shall apply to a nonvested property interest or power of appointment contained in the trust by substitutin…

Sec. 1. (a) An attorney in fact has a power granted under this chapter if the power of attorney incorporates the power by: (1) referring to the descriptive language in sections 2 through 19 of this chapter; or (2) citing to a specific section of sections 2 through 19 of this chap…

Sec. 10. (a) Language conferring general authority with respect to fiduciary transactions means the principal authorizes the attorney in fact to do the following if the principal has the authority to delegate: (1) Apply for and procure, in the name of the principal, letters of ad…

Sec. 11. (a) Language conferring general authority with respect to claims and litigation means the principal authorizes the attorney in fact to do the following: (1) Assert and prosecute before a court, an administrative board, a department, a commissioner, or other tribunal, a c…

Sec. 12. (a) Language conferring general authority with respect to personal maintenance or family maintenance means the principal authorizes the attorney in fact to do the following: (1) Perform acts necessary for maintaining the customary standard of living of the principal and …

Sec. 13. (a) Language conferring general authority with respect to benefits from military service means the principal authorizes the attorney in fact to do the following: (1) Execute vouchers in the name of the principal for allowances and reimbursements payable to the United Sta…

Sec. 14. (a) Language conferring general authority with respect to records, reports, and statements means the principal authorizes the attorney in fact to do the following: (1) Keep records of cash received and disbursed for or on account of the principal, of credits and debits t…

Sec. 14.5. (a) Language conferring general authority with respect to electronic records, reports, and statements authorizes the attorney in fact to do the following: (1) Gain access to any computer, storage device, network, communications device, or other computing machinery that…

Sec. 15. (a) Language conferring general authority with respect to estate transactions means the principal authorizes the attorney in fact to do the following: (1) Accept, receipt for, exercise, release, reject, renounce, assign, disclaim, demand, sue for, claim, and recover a le…

Sec. 16. (a) This section does not prohibit an individual capable of consenting to the individual's own health care or to the health care of another from consenting to health care administered in good faith under the religious tenets and practices of the individual requiring heal…

Sec. 17. (a) If the attorney in fact has the authority to consent to or refuse health care under section 16(b)(2) of this chapter, the attorney in fact may be empowered to ask in the name of the principal for health care to be withdrawn or withheld when it is not beneficial or wh…

Sec. 18. Language conferring general authority with respect to delegating authority means the principal authorizes the attorney in fact to delegate in writing to one (1) or more persons any or all powers given to the attorney in fact by the power of attorney. An action taken by a…

Sec. 19. Language conferring general authority with respect to all other matters means the principal authorizes the attorney in fact to act as an alter ego of the principal with respect to all possible matters and affairs affecting property owned by the principal that the princip…

Sec. 2. (a) Language conferring general authority with respect to real property transactions means the principal authorizes the attorney in fact to do the following: (1) Accept as a gift or as security for a loan, to reject, demand, buy, lease, receive, or otherwise acquire eithe…

Sec. 3. (a) Language conferring general authority with respect to tangible personal property transactions means the principal authorizes the attorney in fact to do the following: (1) Accept as a gift or as security for a loan, reject, demand, buy, receive, or otherwise acquire ow…

Sec. 4. (a) Language conferring general authority with respect to bond, share, and commodity transactions means the principal authorizes the attorney in fact to do the following: (1) Accept as a gift or as security for a loan, reject, demand, buy, receive, or otherwise acquire ow…

Sec. 4.5. (a) Language conferring general authority with respect to retirement plans means the principal authorizes the attorney in fact to: (1) make contributions, including rollover contributions, or cause contributions to be made on behalf of the principal to any retirement pl…

Sec. 5. (a) Language conferring general authority with respect to banking transactions means the principal authorizes the attorney in fact to do the following: (1) Continue, modify, or terminate a deposit account or other banking arrangement made by or on behalf of the principal …

Sec. 6. (a) Language conferring general authority with respect to business operating transactions means the principal authorizes the attorney in fact to do the following: (1) Discharge and perform a duty or liability, exercise a right, a power, a privilege, or an option the princ…

Sec. 6.5. (a) The following definitions apply throughout this section: (1) "Account" means any account that a specified adult may access or use to transact business. (2) "All other matters" has the meaning set forth in IC 30-5-5-19. (3) "Financial exploitation" means: (A) the unl…

Sec. 7. (a) Language conferring general authority with respect to insurance transactions means the principal authorizes the attorney in fact to do the following: (1) Continue, pay the premium or assessment on, modify, rescind, release, or terminate a contract of life, accident, h…

Sec. 7.5. (a) Language conferring general authority with respect to transfer on death or payable on death transfers means the principal authorizes the attorney in fact to do the following: (1) Establish one (1) or more transfer on death transfers or payable on death transfers. (2…

Sec. 8. (a) Language conferring general authority with respect to beneficiary transactions means the principal authorizes the attorney in fact to do the following: (1) Represent and act for the principal in all ways and in all matters affecting a trust, a probate, an estate, a gu…