Sec. 13. (a) An action against a trust director for breach of trust must be commenced within the same limitation period as an action against a trustee under IC 30-4-6-12.

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Terms Used In Indiana Code 30-4-9-13

  • Breach of trust: includes a violation by a trust director or trustee of a duty imposed on that director or trustee by the terms of the trust, this chapter, or the law of this state other than this chapter. See Indiana Code 30-4-9-2
  • Trust director: means a person that is granted a power of direction by the terms of a trust to the extent the power is exercisable while the person is not serving as a trustee. See Indiana Code 30-4-9-2
  • Trustee: A person or institution holding and administering property in trust.
  • Trustee: includes an original, additional, and successor trustee, and a cotrustee. See Indiana Code 30-4-9-2
     (b) A report or accounting has the same effect on the limitation period for an action against a trust director for breach of trust that the report or accounting would have under IC 30-4-6-12 in an action for breach of trust against a trustee who is in a like position and under similar circumstances.

As added by P.L.221-2019, SEC.10.

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