US Lawyer Database

30-4-5-20. Private Corporate Foundations; Effective Dates of Ic 30-4-5-18

Sec. 20. The provisions of 30-4-5-18 shall be effective as to corporations to which such section applies in accordance with the following subsections (a) and (b): (a) With respect to each such corporation organized on or after January 1, 1970, the provisions of 30-4-5-18 shall be effective from and after the date of such corporation’s […]

30-4-5-21. Trusts for Benevolent Public Purpose; General Rules

Sec. 21. Subject to the provisions of this section and of section 23 of this chapter, every trust for a benevolent public purpose that is subject to the provisions of Subchapter A of Chapter 42 of Subtitle D of the Internal Revenue Code shall: (1) distribute each taxable year amounts sufficient for such trust to […]

30-4-5-14. Settlements; Objections; Hearing; Surcharge

Sec. 14. (Settlements; Objections; Hearing; Surcharge) (a) With respect to the annual written statement required by 30-4-5-12(a), a beneficiary or his personal representative will be deemed to have discharged the trustee from liability as to that beneficiary for all matters disclosed in the statement if he approves in writing the trustee’s statement. (b) In a […]

30-4-5-14.5. Nonjudicial Settlement; Procedures

Sec. 14.5. (a) A trustee may obtain a nonjudicial settlement of its accounts in accordance with subsection (b) when: (1) a trust terminates pursuant to the terms of the trust; (2) a trust terminates early pursuant to IC 30-4-3-24.5; (3) a trustee resigns or is removed; or (4) a trustee seeks discharge of an interim […]

30-4-5-15. Judgment; Fees

Sec. 15. (Judgment; Fees) (a) Subject to the right of appeal, a judgment rendered by the court under 30-4-5-14, either approving the statement or disapproving it and surcharging the trustee, is final, conclusive and binding upon all the parties to the action who are subject to the jurisdiction of the court. (b) Entry of the […]

30-4-5-16. Right to Compensation

Sec. 16. (a) Unless the terms of the trust provide otherwise, and except as provided in section 17 of this chapter, the trustee is entitled to reasonable compensation from the trust estate for acting as trustee. (b) If the terms of the trust specify the trustee’s compensation, the trustee is entitled to be compensated as […]