§ 28-14-6-3 — Fiduciary account information required; timely posting of activities

Indiana § 28-14-6-3

• Jurisdiction: Indiana
• Art. 14: CORPORATE FIDUCIARIES
• Ch. 6: Books and Records of Corporate Fiduciaries

Text

(a) The records of a corporate fiduciary must
contain full information relative to each fiduciary account, including
accounting, correspondence, and legal documentation as needed for the
successful administration of the account.
(b) The records of a corporate fiduciary must meet the following
requirements:
(1) Documentation that accountings are made in accordance with
general trust and probate statutes must be retained by the
corporate fiduciary.
(2) Records must account for cash funds of each account, and
must be constructed in a manner consistent with identification of
cash by its origin and ultimate distribution.
(3) Records must provide information relative to each asset held
for each account, and provide sufficient detail to clearly identify
each asset.
(4) Records must be posted in a manner as timely as activity
levels dictate.

Legislative History

As added by P.L.262-1995, SEC.90.