Indiana § 30-4-3-29.5 Corporate trustee that acquires trust due to change in control

Indiana Statutes

§ 30-4-3-29.5 — Corporate trustee that acquires trust due to change in control

Indiana § 30-4-3-29.5

Art. 4TRUST CODE

Ch. 3Rules Governing the Rights, Powers, Duties, Liabilities,

This text of Indiana § 30-4-3-29.5 (Corporate trustee that acquires trust due to change in control) 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 § 30-4-3-29.5 (2026).

Text

5.

(a)Except as provided in subsection (b) and unless the trust instrument provides otherwise, a corporate trustee that acquires a trust as a result of a change in control may not:

(1)decline to accept the trust property;

(2)resign as trustee; or

(3)otherwise refuse to administer the trust; based upon the amount of property or funds held in the trust estate.

(b)A court may, at the court's discretion, allow a trustee described in subsection (a) to resign if:

(1)the trustee petitions the court; and

(2)the court determines that the trustee's resignation will be in the best interests of all the beneficiaries of the trust.

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5. (a) Except as provided in subsection (b)
and unless the trust instrument provides otherwise, a corporate trustee
that acquires a trust as a result of a change in control may not:
(1) decline to accept the trust property;
(2) resign as trustee; or
(3) otherwise refuse to administer the trust;
based upon the amount of property or funds held in the trust estate.
(b) A court may, at the court's discretion, allow a trustee described
in subsection (a) to resign if:
(1) the trustee petitions the court; and
(2) the court determines that the trustee's resignation will be in the
best interests of all the beneficiaries of the trust.