Indiana Code 30-2-8.6-28. Rights and powers
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Sec. 28. (a) A custodial trustee acting in a fiduciary capacity has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only.
(b) This section does not relieve a custodial trustee from liability for a violation of section 27 of this chapter.
As added by P.L.3-2003, SEC.1.
Terms Used In Indiana Code 30-2-8.6-28
- adult: means an individual who is at least eighteen (18) years of age. See Indiana Code 30-2-8.6-5
- custodial trust property: means the following:
Indiana Code 30-2-8.6-7
- custodial trustee: means a person designated as:
Indiana Code 30-2-8.6-8
- Fiduciary: A trustee, executor, or administrator.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Trustee: A person or institution holding and administering property in trust.