§ 30-4-10-37 — Effect of notice on exercise of decanting power

Indiana § 30-4-10-37

• Jurisdiction: Indiana
• Art. 4: TRUST CODE
• Ch. 10: Uniform Trust Decanting Act

Text

(a) The receipt of notice, waiver of the
notice period, or expiration of the notice period does not affect the right
of a person to file a petition under section 39 of this chapter asserting
that:
(1) an exercise of the decanting power:
(A) is ineffective because it did not comply with this chapter;
(B) was an abuse of discretion; or
(C) was a breach of a fiduciary duty; or
(2) section 52 of this chapter applies to the exercise of the
decanting power.
(b) An exercise of the decanting power is not ineffective because of
the failure to give notice to one (1) or more persons under section 35
of this chapter if the authorized fiduciary acted with reasonable care to
comply with section 35 of this chapter.

Legislative History

As added by P.L.161-2022, SEC.3.