Indiana § 30-2-8.6-35 Written statement of trust administration; petition for accounting

Indiana Statutes

§ 30-2-8.6-35 — Written statement of trust administration; petition for accounting

Indiana § 30-2-8.6-35

Art. 2GENERAL PROVISIONS

Ch. 8.6Uniform Custodial Trust Act

This text of Indiana § 30-2-8.6-35 (Written statement of trust administration; petition for accounting) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 30-2-8.6-35 (2026).

Text

(a)Upon the acceptance of custodial trust property, the custodial trustee shall provide a written statement describing the custodial trust property. The custodial trustee shall provide a written statement of the administration of the custodial trust property:

(1)once each year;

(2)upon request at reasonable times by the beneficiary or the beneficiary's legal representative;

(3)upon resignation or removal of the custodial trustee; and

(4)upon termination of the custodial trust. The statements described by this section must be provided to the beneficiary or to the beneficiary's legal representative, if any. Upon termination of the beneficiary's interest, the custodial trustee shall furnish a current statement to the person to whom the custodial trust property is to be delivered.

(b)The

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Upon the acceptance of custodial trust
property, the custodial trustee shall provide a written statement
describing the custodial trust property. The custodial trustee shall
provide a written statement of the administration of the custodial trust
property:
(1) once each year;
(2) upon request at reasonable times by the beneficiary or the
beneficiary's legal representative;
(3) upon resignation or removal of the custodial trustee; and
(4) upon termination of the custodial trust.
The statements described by this section must be provided to the
beneficiary or to the beneficiary's legal representative, if any. Upon
termination of the beneficiary's interest, the custodial trustee shall
furnish a current statement to the person to whom the custodial trust
property is to be delivered.
(b) The following may petition the court for an accounting by the
custodial trustee or the custodial trustee's legal representative:
(1) A beneficiary.
(2) The beneficiary's legal representative.
(3) An adult member of the beneficiary's family.
(4) A person interested in the custodial trust property.
(5) A person interested in the welfare of the beneficiary.
(c) A successor custodial trustee may petition the court for an
accounting by a predecessor custodial trustee.
(d) In an action or proceeding under this chapter or in any other
proceeding, the court may require or permit the custodial trustee or the
custodial trustee's legal representative to account. The custodial trustee
or the custodial trustee's legal representative may petition the court for
approval of final accounts.
(e) If a custodial trustee is removed, the court shall:
(1) require an accounting;
(2) order delivery of the custodial trust property and records to the
successor custodial trustee; and
(3) order the execution of all instruments required for transfer of
the custodial trust property.
(f) On petition of the custodial trustee or any person who could
petition for an accounting, the court, after notice to interested persons,
may:
(1) issue instructions to the custodial trustee;
(2) review the propriety of the acts of a custodial trustee; or
(3) review the reasonableness of compensation determined by the
custodial trustee for the services of the custodial trustee or others.