30-4-9-1. Short Title
Sec. 1. This chapter may be cited as the Uniform Directed Trust Act. As added by P.L.221-2019, SEC.10.
30-4-9-10. Providing Information to a Trust Director; Liability; Breach of Trust
Sec. 10. (a) Subject to section 11 of this chapter, a trustee shall provide information to a trust director to the extent the information is reasonably related both to: (1) the powers or duties of the trustee; and (2) the powers or duties of the director. (b) Subject to section 11 of this chapter, a […]
30-4-9-11. Duties of Trust Director and Trustee Under the Terms of the Trust
Sec. 11. (a) Unless the terms of a trust provide otherwise: (1) a trustee does not have a duty to: (A) monitor a trust director; or (B) inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the director; and (2) […]
30-4-9-12. Relief of Cotrustee From Duties and Liabilities
Sec. 12. The terms of a trust may relieve a cotrustee from duty and liability with respect to another cotrustee’s exercise or nonexercise of a power of the other cotrustee to the same extent that in a directed trust a directed trustee is relieved from duty and liability with respect to a trust director’s power […]
30-4-9-13. Causes of Action; Statutes of Limitations
Sec. 13. (a) An action against a trust director for breach of trust must be commenced within the same limitation period as an action against a trustee under IC 30-4-6-12. (b) A report or accounting has the same effect on the limitation period for an action against a trust director for breach of trust that […]
30-4-9-14. Causes of Action; Defenses
Sec. 14. In an action against a trust director for breach of trust, the director may assert the same defenses a trustee in a like position and under similar circumstances could assert in an action for breach of trust against the trustee. As added by P.L.221-2019, SEC.10.
30-4-9-15. Causes of Action; Personal Jurisdiction
Sec. 15. (a) By accepting appointment as a trust director of a trust under this chapter, the director submits to personal jurisdiction of the courts of the state of Indiana regarding any matter related to a power or duty of the director. (b) This section does not preclude other methods of obtaining jurisdiction over a […]
30-4-9-16. Applicable Rules
Sec. 16. Unless the terms of a trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding the following matters: (1) Acceptance (IC 30-4-2-2). (2) Giving of bond to secure performance (IC 30-4-6-8). (3) Reasonable compensation (IC 30-4-5-16). (4) Resignation and removal (IC 30-4-3-29). (5) Vacancy and appointment of successor […]
30-4-9-17. Uniformity of the Law
Sec. 17. In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among the states that enact it. As added by P.L.221-2019, SEC.10.
30-4-9-2. Definitions
Sec. 2. As used in this chapter, the following definitions apply: (1) “Breach of trust” includes a violation by a trust director or trustee of a duty imposed on that director or trustee by the terms of the trust, this chapter, or the law of this state other than this chapter. (2) “Directed trust” means […]
30-4-9-3. Application
Sec. 3. (a) This chapter applies to a trust, whenever created, that has its principal place of administration in Indiana, subject to the following: (1) If the trust was created before July 1, 2019, this chapter applies only to a decision or action occurring after June 30, 2019. (2) If the principal place of administration […]
30-4-9-4. Applicable Law
Sec. 4. The common law and principles of equity supplement this chapter, except to the extent modified by this chapter or law of Indiana other than this chapter. As added by P.L.221-2019, SEC.10.
30-4-9-5. Powers of Appointment
Sec. 5. (a) As used in this section, “power of appointment” means a power that enables a person acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over trust property. (b) This chapter does not apply to a: (1) power of appointment; (2) power to […]
30-4-9-6. Powers of Direction
Sec. 6. (a) Subject to section 7 of this chapter, the terms of the trust may grant a power of direction to a trust director. (b) Unless the terms of a trust provide otherwise: (1) a trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted […]
30-4-9-7. Rules Relating to Payback Provisions; Charitable Interest
Sec. 7. A trust director is subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction or further power under section 6(b)(1) of this chapter regarding: (1) a payback provision in the terms of a trust necessary to comply […]
30-4-9-8. Duties and Liabilities of a Trust Director
Sec. 8. (a) Subject to subsection (b), with respect to a power of direction or further power under section 6(b)(1) of this chapter: (1) a trust director has the same fiduciary duty and liability in the exercise or nonexercise of the power: (A) if the power is held individually, as a sole trustee in a […]
30-4-9-9. Duties and Liabilities of a Directed Trustee
Sec. 9. (a) Subject to subsection (b), a directed trustee shall take reasonable action to comply with a trust director’s exercise or nonexercise of a power of direction or further power under section 6(b)(1) of this chapter, and the trustee is not liable for the action. (b) A directed trustee must not comply with a […]