Indiana Code 30-4-5.5-1. Remedies by attorney general against certain trustees and other individuals
(1) A trustee of a benevolent trust, including a perpetual care fund or endowment care fund established under IC 23-14-48 or a prepaid funeral trust or escrow account established under IC 30-2-9, IC 30-2-10, or IC 30-2-13.
Terms Used In Indiana Code 30-4-5.5-1
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Breach of trust: means a violation by the trustee of any duty which is owed to the settlor or beneficiary. See Indiana Code 30-4-1-2
- Charitable trust: means a trust in which all the beneficiaries are the general public or organizations, including trusts, corporations, and associations, and that is organized and operated wholly for religious, charitable, scientific, public safety testing, literary, or educational purposes. See Indiana Code 30-4-1-2
- Contract: A legal written agreement that becomes binding when signed.
- Court: means a court having jurisdiction over trust matters. See Indiana Code 30-4-1-2
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Person: has the meaning set forth in IC 30-2-14-9. See Indiana Code 30-4-1-2
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
- Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
- Trustee: A person or institution holding and administering property in trust.
- Trustee: has the meaning set forth in IC 30-2-14-13. See Indiana Code 30-4-1-2
(3) A funeral home.
(4) A beneficiary of a contract entered into under IC 30-2-9.
(5) A seller (as defined in IC 30-2-13-10) under IC 30-2-13.
(6) Any other person that holds a perpetual care fund, an endowment care fund, or a prepaid funeral trust fund.
(b) A person described in subsection (a) may not do any of the following:
(1) Commit a breach of trust.
(2) Violate the mandate of a charitable trust.
(3) Violate a duty listed in this article.
(4) Fail to comply with a requirement or prohibition set forth in any of the following:
(A) IC 23-14-48.
(B) IC 23-14-48.5.
(C) IC 23-14-49.
(D) IC 23-14-51.
(E) IC 30-2-9.
(F) IC 30-2-10.
(G) IC 30-2-13.
(H) IC 30-4.
(c) The attorney general may petition a court to issue one (1) or more of the following remedies for a breach, violation, or failure enumerated in subsection (b):
(1) Injunctive relief.
(2) Appointment of temporary or permanent receivers.
(3) Permanent removal of trustees.
(4) Appointment of permanent replacement trustees subject to court approval.
A remedy under this subsection is in addition to any other remedy.
(d) The attorney general may seek a remedy listed in subsection (c) against a trustee, a trust, or any other person described in subsection (a) for a breach, violation, or failure enumerated in subsection (b).
(e) A court in which an action is brought under this section may do the following:
(1) Issue a temporary restraining order, preliminary injunction, or permanent injunction.
(2) Order a trustee, an escrow agent, a seller (as defined in IC 30-2-13-10), a cemetery owner, or a funeral home to pay restitution or money unlawfully received or retained from purchasers and deposit the restitution or money into an escrow account for distribution to aggrieved purchasers.
(3) Order a trustee, an escrow agent, a seller (as defined in IC 30-2-13-10), a cemetery owner, or a funeral home to reimburse the state for reasonable costs incurred by the attorney general in investigating and prosecuting a violation of this section.
(4) Impose civil penalties.
(5) Provide for the appointment of a receiver.
As added by P.L.245-2005, SEC.8. Amended by P.L.61-2008, SEC.15.