Indiana Code 30-4-10-5. “Beneficiary”
Current as of: 2024 | Check for updates
|
Other versions
Sec. 5. As used in this chapter, “beneficiary” means a person that:
(2) holds a power of appointment over trust property; or
(1) has a present or future, vested or contingent, beneficial interest in a trust;
Terms Used In Indiana Code 30-4-10-5
- charitable organization: means :
Indiana Code 30-4-10-8
- person: means :
Indiana Code 30-4-10-19
- power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See Indiana Code 30-4-10-20
- terms of the trust: has the meaning set forth in IC 30-4-1-2(22). See Indiana Code 30-4-10-31
- Trust property: means property either placed in trust or purchased or otherwise acquired by the trustee for the trust regardless of whether the trust property is titled in the name of the trustee or the name of the trust. See Indiana Code 30-4-1-2
(3) is an identified charitable organization that may receive distributions under the terms of the trust.
As added by P.L.161-2022, SEC.3.