Indiana Code 30-2-15-9. Trustee’s power to convert trust, reconvert trust, and change unitrust rate
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Sec. 9. A trustee may:
(2) reconvert a total return unitrust to an income trust; or
(1) release the trustee‘s power to adjust between trust principal and income under IC 30-2-14-15 and convert an income trust to a total return unitrust;
Terms Used In Indiana Code 30-2-15-9
- income trust: means :
Indiana Code 30-2-15-2
- total return unitrust: means an income trust that has been converted to a total return unitrust in accordance with this chapter. See Indiana Code 30-2-15-4
- trustee: refers to the:
Indiana Code 30-2-15-5
- Trustee: A person or institution holding and administering property in trust.
- unitrust rate: means the percentage of the fair market value of the trust that is determined under section 15 of this chapter and used to calculate the unitrust amount. See Indiana Code 30-2-15-7
(3) change the unitrust rate;
if the requirements of this chapter are met.
As added by P.L.3-2003, SEC.2.