Sec. 15.2. (a) This section applies to a trust described in section 2(2) of this chapter.

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Terms Used In Indiana Code 30-2-15-15.2

  • in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
  • 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.
  • unitrust rate: means the percentage of the fair market value of the trust that is determined under section 15 of this chapter and used to calculate the unitrust amount. See Indiana Code 30-2-15-7
     (b) A trust may have a unitrust rate that represents a reasonable current return from the trust and best serves the purpose of the perpetual care (as defined in IC 23-14-33-30) of the cemetery, but that is not less than three percent (3%) or more than five percent (5%), if the rate is:

(1) agreed upon in writing by the trustee and the owner of the cemetery; or

(2) ordered by the court having jurisdiction of the trust.

As added by P.L.33-2019, SEC.12.

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