Indiana Code 28-3-2-7. Effect of conversion, merger, or consolidation on fiduciary relations of state bank
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Terms Used In Indiana Code 28-3-2-7
- bank or trust company: means any bank or trust company organized under the provisions of any statute of this state; and
Indiana Code 28-3-2-9
- Decedent: A deceased person.
- Executor: A male person named in a will to carry out the decedent
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- national banking association: means any national bank organized under the laws of the United States. See Indiana Code 28-3-2-9
- Testator: A male person who leaves a will at death.
- Trustee: A person or institution holding and administering property in trust.
Sec. 7. If any bank or trust company is acting as the administrator, coadministrator, executor, coexecutor, trustee or cotrustee of or in respect to any estate or trust or guardian of any person or estate which is being administered under the laws of this state, or has been named or designated as such in any will or other writing theretofore executed, such relation, as well as any and all other similar fiduciary relations, and all rights, privileges, duties and obligations connected therewith shall remain unimpaired, and shall continue into and in such national banking association from and as of the time of the taking effect of such merger, consolidation or conversion, irrespective of the date when any such relation shall have been created or established, and irrespective of the date of any agreement relating thereto or of the date of the death of any testator or decedent whose estate is being so administered.
Formerly: Acts 1953, c.69, s.7.