Indiana Code 27-1-40-1. “Trusteed surplus”
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Sec. 1. As used in this chapter, “trusteed surplus” means the aggregate value of a United States branch‘s:
(2) trust assets described in section 4 of this chapter;
(1) surplus and reserve funds required under IC 27-1-6; and
Terms Used In Indiana Code 27-1-40-1
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
- United States branch: means :
Indiana Code 27-1-40-2
plus investment income accrued on the items described in subdivisions (1) and (2) if the investment income is collected by the state for the trustees, less the aggregate net amount of all of the United States branch’s reserves and other liabilities in the United States, as determined under section 6 of this chapter.
As added by P.L.173-2007, SEC.20. Amended by P.L.3-2008, SEC.210.