Indiana Code 30-4-10-51. Discretionary distribution
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Terms Used In Indiana Code 30-4-10-51
- decanting power: means the power of an authorized fiduciary under this chapter to:
Indiana Code 30-4-10-12
- Fiduciary: A trustee, executor, or administrator.
- first trust: means a trust over which an authorized fiduciary may exercise the decanting power. See Indiana Code 30-4-10-15
- Principal: has the meaning set forth in IC 30-2-14-10. See Indiana Code 30-4-1-2
Sec. 51. An authorized fiduciary may exercise the decanting power whether under the first trust‘s discretionary distribution standard the fiduciary would have made or could have been compelled to make a discretionary distribution of principal at the time of the exercise.
As added by P.L.161-2022, SEC.3.