Indiana Code 32-17-11-2. “Beneficiary” defined
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Terms Used In Indiana Code 32-17-11-2
- account: means a contract of deposit of funds between a depositor and a financial institution. See Indiana Code 32-17-11-1
- party: means a person who, by the terms of the account, has a present right, subject to request, to payment from a multiple party account. See Indiana Code 32-17-11-7
- Trustee: A person or institution holding and administering property in trust.
Sec. 2. As used in this chapter, “beneficiary” means a person named in a trust account as one for whom a party to the account is named as trustee.
[Pre-2002 Recodification Citation: 32-4-1.5-1(2).]
As added by P.L.2-2002, SEC.2.