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Indiana Code Title 30. Trusts and Fiduciaries § 30-4-8-15

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 15. 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.

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Cite this article: FindLaw.com - Indiana Code Title 30. Trusts and Fiduciaries § 30-4-8-15 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-30-trusts-and-fiduciaries/in-code-sect-30-4-8-15/

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