Indiana Code 30-1-8-7. Common trust funds for funds held by other bank, trust company, or affiliate as fiduciary
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Sec. 7. Any:
(2) national bank qualified to act as fiduciary and whose principal place of business is in Indiana;
(1) Indiana bank or trust company; or
Terms Used In Indiana Code 30-1-8-7
- Executor: A male person named in a will to carry out the decedent
- 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.
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
may establish and maintain one (1) or more common trust funds in accordance with section 2 of this chapter for the funds held by the bank or trust company or any other bank or trust company, including an affiliate, in its capacity as administrator, executor, guardian, or trustee under will or trust agreement.
Formerly: Acts 1973, P.L.292, SEC.1. As amended by P.L.280-1987, SEC.4; P.L.238-2005, SEC.16.