Sec. 28. (a) A custodial trustee acting in a fiduciary capacity has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only.

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Terms Used In Indiana Code 30-2-8.6-28

  • adult: means an individual who is at least eighteen (18) years of age. See Indiana Code 30-2-8.6-5
  • custodial trust property: means the following:

    Indiana Code 30-2-8.6-7

  • custodial trustee: means a person designated as:

    Indiana Code 30-2-8.6-8

  • Fiduciary: A trustee, executor, or administrator.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Trustee: A person or institution holding and administering property in trust.
     (b) This section does not relieve a custodial trustee from liability for a violation of section 27 of this chapter.

As added by P.L.3-2003, SEC.1.

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