§ 32-17-11-25 — Payments; trust accounts

A trust account may be paid, on request:
(1) to any trustee;
(2) unless the financial institution has received written notice that
the beneficiary has a vested interest not dependent upon the
beneficiary surviving the trustee, if proof of death is presented to
the financial institution showing that the decedent was the
survivor of all other persons named on the account either as
trustee or beneficiary, to the personal representative or heirs of a
deceased trustee; and
(3) upon presentation to the financial institution of proof of death
showing that the beneficiary or beneficiaries survived all persons
named as trustee, to the beneficiary or beneficiaries.
[Pre-2002 Recodification Citation: 32-4-1.5-11.]

Legislative History

As added by P.L.2-2002, SEC.2.