Indiana Code 28-14-3-16. Power to act in fiduciary capacity; acting as commissioner for sale of real estate without bond or security; administration of oaths
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Sec. 16. (a) Except as otherwise provided in this chapter, a corporate fiduciary has the power:
(A) in every fiduciary capacity permitted by this article; and
(1) to act:
Terms Used In Indiana Code 28-14-3-16
- Fiduciary: A trustee, executor, or administrator.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(B) as commissioner for the sale of real estate, without bond or other security; and
(2) to administer oaths attested by the signature of its secretary or cashier and its seal whenever it is acting in a fiduciary capacity and whenever an individual acting in the same capacity is authorized by law to administer oaths.
(b) The court having jurisdiction of a corporate fiduciary may at any time, before or after the corporate fiduciary accepts a fiduciary appointment require the corporate fiduciary to give a bond or other security. If the corporate fiduciary fails to give a bond or security as required, the court may remove the corporate fiduciary and revoke the appointment.
As added by P.L.262-1995, SEC.90.