Ind. Code § 30-4-8-15

Current through P.L. 171-2024

Section 30-4-8-15 - Resignation of qualified trustee; appointing successor trustees

If:

(1) a qualified trustee of a legacy trust ceases to meet the requirements of section 6 of this chapter; and

(2) there remains no trustee of the legacy trust that meets the requirements of section 6 of this chapter;

the qualified trustee described in subdivision (1) is considered to have resigned when the qualified trustee ceased to meet the requirements of section 6 of this chapter, and a successor trustee provided for in the legacy trust shall become a qualified trustee. If the legacy trust does not provide for a successor qualified trustee, a court shall appoint a successor qualified trustee upon the application of any interested party.

IC 30-4-8-15

Added by P.L. 221-2019,SEC. 9, eff. 7/1/2019.