Indiana Code 30-4-10-57. Liability against property of a first trust
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Terms Used In Indiana Code 30-4-10-57
- decanting power: means the power of an authorized fiduciary under this chapter to:
Indiana Code 30-4-10-12
- first trust: means a trust over which an authorized fiduciary may exercise the decanting power. See Indiana Code 30-4-10-15
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- second trust: means :
Indiana Code 30-4-10-26
Sec. 57. A debt, liability, or other obligation enforceable against property of a first trust is enforceable to the same extent against the property when held by the second trust after exercise of the decanting power.
As added by P.L.161-2022, SEC.3.