Indiana § 30-1-8-2 - Establishment; conformity with Internal Revenue Code
Full text of Indiana Indiana Code § 30-1-8-2 — Establishment; conformity with Internal Revenue Code, with citation guidance and answers to common questions.
§ 30-1-8-2. Establishment; conformity with Internal Revenue Code
Sec. 2. Any Indiana bank or trust company or any national bank, qualified to act as fiduciary in this state, may establish common trust funds in conformity with the provisions of Section 584 of the Internal Revenue Code, and the regulations promulgated thereunder, pertaining to the collective investment and reinvestment of trust funds by such banks and companies as fiduciaries or co-fiduciaries, and may lawfully purchase with funds which it holds for investment as such fiduciary or co-fiduciary participating interests in such common trust funds, if:
(1) such investment is not prohibited by the instrument or judgment creating such fiduciary relationship; and
(2) in any case where it is a co-fiduciary, the bank or trust company procures the written consent of its co-fiduciary to such investment. Such consent is hereby authorized.
Formerly: Acts 1949, c.70, s.2. As amended by P.L.2-1987, SEC.44.
Frequently Asked Questions About Indiana § 30-1-8-2
What does Indiana Code § 30-1-8-2 cover?
Section 30-1-8-2 ("Establishment; conformity with Internal Revenue Code") 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 § 30-1-8-2?
A common citation format is "Indiana Code § 30-1-8-2" (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 § 30-1-8-2 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.