Indiana Code 30-2-15-2. “Income trust”
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Sec. 2. As used in this chapter, “income trust” means:
(2) a cemetery perpetual care fund established under IC 23-14-48-2.
(1) a trust created by an inter vivos or a testamentary instrument that has terms that describe the amount that may or must be distributed to a beneficiary by referring to the trust’s income; or
Terms Used In Indiana Code 30-2-15-2
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Inter vivos: Transfer of property from one living person to another living person.
As added by P.L.3-2003, SEC.2. Amended by P.L.33-2019, SEC.8.