§ 32-18-1-19 — Trustee; removal; vacancy

Indiana § 32-18-1-19

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 18: INTERESTS OF CREDITORS IN PROPERTY
• Ch. 1: Assignment of Real and Personal Property for the Benefit

Text

(a) The judge of the circuit court, superior
court, or probate court may, upon the petition of a creditor or the
assignor, remove a trustee under this chapter for good cause shown and
appoint a successor.
(b) If a vacancy occurs by death, resignation, or removal of a trustee
from Indiana, the judge may fill the vacancy and shall order a trustee
who is removed to surrender all property in the trustee's hands
belonging to the trust to the successor. The court may require a trustee
removed under this section to pay to the clerk of the court all money in
the trustee's hands, and on or before the next term, the trustee shall
make and file a full and final report showing the condition of the trust
and the trustee's management of the trust while under the trustee's
control. If the court is satisfied with the report and the trustee has fully
complied with this chapter and paid all money in the trustee's hands to
the clerk of the court, the court may discharge the trustee.
[Pre-2002 Recodification Citation: 32-12-1-19.]

Legislative History

As added by P.L.2-2002, SEC.3. Amended by P.L.84-2016, SEC.140.