§ 30-2-4-1 — Definitions

Indiana § 30-2-4-1

• Jurisdiction: Indiana
• Art. 2: GENERAL PROVISIONS
• Ch. 4: Uniform Fiduciaries Act

Text

(a) In this chapter unless the context or
subject-matter otherwise requires:
(1) "Bank" includes any person or association of persons, whether
incorporated or not, carrying on the business of banking.
(2) "Fiduciary" includes a trustee under any trust, expressed,
implied, resulting or constructive, executor, administrator,
guardian, conservator, curator, receiver, trustee in bankruptcy,
assignee for the benefit of creditors, partner, agent, officer of a
corporation, public or private, public officer, or any other person
acting in a fiduciary capacity for any person, trust or estate.
(3) "Person" includes a corporation, limited liability company,
partnership, or other association, or two (2) or more persons
having a joint or common interest.
(4) "Principal" includes any person to whom a fiduciary as such
owes an obligation.
(b) A thing is done "in good faith" within the meaning of this
chapter, when it is in fact done honestly, whether it be done negligently
or not.
Formerly: Acts 1927, c.17, s.1. As amended by Acts 1982,
P.L.171, SEC.92; P.L.8-1993, SEC.463.