Indiana Statutes
§ 32-17-11-14 — "Trust account" defined
(a)As used in this chapter, "trust account"
means an account in the name of at least one (1) party as trustee for at
least one (1) beneficiary if:
(1)the relationship is established by the form of the account and
the deposit agreement with the financial institution; and
(2)there is no subject of the trust other than the sums on deposit
in the account.
It is not essential that payment to the beneficiary be mentioned in the
deposit agreement.
(b)The term does not include the following:
(1)A regular trust account under a testamentary trust.
(2)A trust agreement that has significance apart from the account.
(3)A fiduciary account arising from a fiduciary relation such as
attorney-client.
[Pre-2002 Recodification Citation: 32-4-1.5-1(14).]
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Legislative History
As added by P.L.2-2002, SEC.2.
Nearby Sections
15
§ 32-16-1-1
"Prior property law"§ 32-16-1-2
Purpose of recodification§ 32-16-1-3
Statutory construction of recodification§ 32-16-1-4
Effect of recodification§ 32-16-1-5
Recodification of prior property law§ 32-16-1-6
References to repealed statutes§ 32-16-1-7
References to citations§ 32-16-1-8
References to prior rules§ 32-16-1-9
References to prior property law§ 32-17-1-1
"Grantor"§ 32-17-1-2
Fee simple conveyance§ 32-17-1-3
Estates tail; abolition§ 32-17-1-4
Lineal and collateral warranties; abolition§ 32-17-10-1
Application of chapter