Sec. 8.5. (a) The bank, trust company, savings association, or credit union that receives the payments made by a settlor under section 2 of this chapter may enter into a
contract under which the account into which the settlor’s payments are deposited is managed by a third party.
Ask a will, trust or estate question, get an answer ASAP!
Thousands of highly rated, verified estate & trust lawyers.
Click here to chat with a lawyer about your rights.
Terms Used In Indiana Code 30-2-10-8.5
- Contract: A legal written agreement that becomes binding when signed.
- 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
(1) an investment adviser registered with the United States Securities and Exchange Commission under the federal Investment Advisers Act of 1940 (15 U.S.C. §§ 80b-1 et seq.); or
(2) an investment adviser registered under IC 23-19-4.
(c) In managing the funds in a settlor’s account under subsection (a), an investment adviser shall comply in all respects with the Indiana Uniform Prudent Investor Act under IC 30-4-3.5-1(c)(3).
As added by P.L.53-2015, SEC.1.
