Indiana Code 30-2-14-5. “Income beneficiary” defined
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Terms Used In Indiana Code 30-2-14-5
- income: means money or property that a fiduciary receives as current return from a principal asset. See Indiana Code 30-2-14-4
- person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government; governmental subdivision, agency, or instrumentality; public corporation, or any other legal or commercial entity. See Indiana Code 30-2-14-9
Sec. 5. As used in this chapter, “income beneficiary” means a person to whom net income of a trust is or may be payable.
As added by P.L.84-2002, SEC.2.