Indiana Statutes
§ 30-4-2-12 — Illegality
(Illegality)
(a)The terms of the trust may not require the trustee to commit a
criminal or tortious act or an act which is contrary to public policy.
(b)A trust with terms which violate subsection (a) of this section is
invalid unless the prohibited term is separable. If the prohibited term
is separable, only it is invalid and the remainder of the trust is valid.
Formerly: Acts 1971, P.L.416, SEC.3.
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Related
Evansville Greenway & Remediation Trust v. Southern Indiana Gas & Electric Co.
661 F. Supp. 2d 989 (S.D. Indiana, 2009)
Nearby Sections
15
§ 30-1-2-1
Stocks; bonds; securities§ 30-1-2-2
Securities not listed; terms§ 30-1-4-1
Eligible investments§ 30-1-5-1
Securities; insurance§ 30-1-6-3
Bidding; report; hearing; endorsement§ 30-1-6-5
Acts conclusive; disaffirmance denied§ 30-1-7-2
Petition to execute options; prospectus§ 30-1-7-3
Hearing; order of court§ 30-1-7-4
Binding and conclusive; disaffirmance§ 30-1-8-1
Definitions