Indiana Code 23-14-48-2.2. Withdrawal of funds from perpetual care fund established as a conventional trust
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Sec. 2.2. If:
(2) the perpetual care fund trust has not been converted into a total return unitrust under section 2.6 of this chapter;
(1) the perpetual care fund of a cemetery is a trust; and
Terms Used In Indiana Code 23-14-48-2.2
- Trustee: A person or institution holding and administering property in trust.
the trustee of the trust may, to the extent allowed by section 2 of this chapter, withdraw funds from the trust in amounts the trustee considers necessary to pay the cost of perpetual care of the cemetery, notwithstanding any provision in the terms of the trust instrument that would restrict withdrawals from the trust for perpetual care of the cemetery to less than the amounts allowed by section 2 of this chapter.
As added by P.L.163-2016, SEC.1. Amended by P.L.33-2019, SEC.2.