Indiana Code 28-2-7-1. General exemption from requirement for bond
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Sec. 1. Any bank, trust company, or corporate fiduciary organized under the laws of the state of Indiana or of the United States of America and operating a bank, trust company, or corporate fiduciary which is located within the state of Indiana, which is acting on December 12, 1945, or which may act, after December 12, 1945, in a fiduciary capacity in any estate, trust, receivership, action, matter, or proceeding pending on or after December 12, 1945, in any court created by the Constitution or the laws of the state of Indiana, shall not, while so acting, except as provided in section 2 of this chapter, be required to file in said court any bond conditioned:
(2) to account for the funds or property which may come into its possession; or
(1) for the full performance of its duties;
Terms Used In Indiana Code 28-2-7-1
- Fiduciary: A trustee, executor, or administrator.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
(3) for any other purpose whatsoever.
Formerly: Acts 1945, c.248, s.1. As amended by P.L.263-1985, SEC.119; P.L.262-1995, SEC.52.