Sec. 1. The words and phrases used in this chapter shall be construed as follows:
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Terms Used In Indiana Code 30-1-8-1
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Executor: A male person named in a will to carry out the decedent
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Regulations: shall mean the regulations promulgated by the board of governors of the federal reserve system and the comptroller of currency in conformity with the federal Internal Revenue Code, as such regulations now exist or as they may be amended. See Indiana Code 30-1-8-1
- Trustee: A person or institution holding and administering property in trust.
(b) “Regulations” shall mean the regulations promulgated by the board of governors of the federal reserve system and the comptroller of currency in conformity with the federal Internal Revenue Code, as such regulations now exist or as they may be amended.
(c) “Participating interest” shall mean a proportionate undivided interest in all assets of the common trust fund for the time being, acquired by a fiduciary for cash, or in exchange for other assets.
(d) Words imputing the masculine gender shall be applied to and include all persons and corporations.
Formerly: Acts 1949, c.70, s.1; Acts 1965, c.409, s.1. As amended by Acts 1982, P.L.171, SEC.90; P.L.136-2018, SEC.220.
