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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 1. (a) This section applies to the following:
(1) A trustee of a benevolent trust, including a perpetual care fund or endowment care fund established under IC 23-14-48 or a prepaid funeral trust or escrow account established under IC 30-2-9, IC 30-2-10, or IC 30-2-13.
(2) A cemetery owner.
(3) A funeral home.
(4) A beneficiary of a contract entered into under IC 30-2-9.
(5) A seller (as defined in IC 30-2-13-10) under IC 30-2-13.
(6) Any other person that holds a perpetual care fund, an endowment care fund, or a prepaid funeral trust fund.
(b) A person described in subsection (a) may not do any of the following:
(1) Commit a breach of trust.
(2) Violate the mandate of a charitable trust.
(3) Violate a duty listed in this article.
(4) Fail to comply with a requirement or prohibition set forth in any of the following:
(A) IC 23-14-48.
(B) IC 23-14-48.5.
(C) IC 23-14-49.
(D) IC 23-14-51.
(E) IC 30-2-9.
(F) IC 30-2-10.
(G) IC 30-2-13.
(H) IC 30-4.
(c) The attorney general may petition a court to issue one (1) or more of the following remedies for a breach, violation, or failure enumerated in subsection (b):
(1) Injunctive relief.
(2) Appointment of temporary or permanent receivers.
(3) Permanent removal of trustees.
(4) Appointment of permanent replacement trustees subject to court approval.
A remedy under this subsection is in addition to any other remedy.
(d) The attorney general may seek a remedy listed in subsection (c) against a trustee, a trust, or any other person described in subsection (a) for a breach, violation, or failure enumerated in subsection (b).
(e) A court in which an action is brought under this section may do the following:
(1) Issue a temporary restraining order, preliminary injunction, or permanent injunction.
(2) Order a trustee, an escrow agent, a seller (as defined in IC 30-2-13-10), a cemetery owner, or a funeral home to pay restitution or money unlawfully received or retained from purchasers and deposit the restitution or money into an escrow account for distribution to aggrieved purchasers.
(3) Order a trustee, an escrow agent, a seller (as defined in IC 30-2-13-10), a cemetery owner, or a funeral home to reimburse the state for reasonable costs incurred by the attorney general in investigating and prosecuting a violation of this section.
(4) Impose civil penalties.
(5) Provide for the appointment of a receiver.
Cite this article: FindLaw.com - Indiana Code Title 30. Trusts and Fiduciaries § 30-4-5.5-1 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-30-trusts-and-fiduciaries/in-code-sect-30-4-5-5-1/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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