Sec. 2. (a) If real property referred to in section 1(b)(3) of this chapter is held for one (1) year without being used by the corporate fiduciary as an office or a facility, the board of directors of the corporate fiduciary shall state by resolution definite plans for the use of the real property.

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Terms Used In Indiana Code 28-14-4-2

  • Fiduciary: A trustee, executor, or administrator.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (b) A resolution adopted under this section shall be made available for inspection by the department.

As added by P.L.262-1995, SEC.90.

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