Indiana § 28-7-1-10.6 - Issuing shares in a revocable or irrevocable trust; conditions
Full text of Indiana Indiana Code § 28-7-1-10.6 — Issuing shares in a revocable or irrevocable trust; conditions, with citation guidance and answers to common questions.
§ 28-7-1-10.6. Issuing shares in a revocable or irrevocable trust; conditions
Sec. 10.6. A credit union may issue shares in a revocable or irrevocable trust, subject to the following:
(1) If shares are issued in a revocable trust, at least one (1) of the settlors must be a member of the credit union in the settlor's own right.
(2) If shares are issued in an irrevocable trust, at least one (1):
(A) settlor; or
(B) beneficiary;
must be a member of the credit union in the settlor's or the beneficiary's own right.
(3) The name of each beneficiary must be listed for the trust, whether the trust is revocable or irrevocable.
As added by P.L.89-2011, SEC.48.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-7-1-10.6
What does Indiana Code § 28-7-1-10.6 cover?
Section 28-7-1-10.6 ("Issuing shares in a revocable or irrevocable trust; conditions") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 28-7-1-10.6?
A common citation format is "Indiana Code § 28-7-1-10.6" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 28-7-1-10.6 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.