Indiana Code 30-4-1-3. Application and interpretation of rules of law and terms of trust
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Sec. 3. (Application and Interpretation of the Rules of Law and the Terms of the Trust)
The rules of law contained in this article shall be interpreted and applied to the terms of the trust so as to implement the intent of the settlor and the purposes of the trust. If the rules of law and the terms of the trust conflict, the terms of the trust shall control unless the rules of law clearly prohibit or restrict the article which the terms of the trust purport to authorize.
Formerly: Acts 1971, P.L.416, SEC.2.
Terms Used In Indiana Code 30-4-1-3
- Settlor: means a person who establishes a trust including the testator of a will under which a trust is created. See Indiana Code 30-4-1-2