Indiana § 30-4-3-29.5 - Corporate trustee that acquires trust due to change in control
Full text of Indiana Indiana Code § 30-4-3-29.5 — Corporate trustee that acquires trust due to change in control, with citation guidance and answers to common questions.
§ 30-4-3-29.5. Corporate trustee that acquires trust due to change in control
Sec. 29.5. (a) Except as provided in subsection (b) and unless the trust instrument provides otherwise, a corporate trustee that acquires a trust as a result of a change in control may not:
(1) decline to accept the trust property;
(2) resign as trustee; or
(3) otherwise refuse to administer the trust;
based upon the amount of property or funds held in the trust estate.
(b) A court may, at the court's discretion, allow a trustee described in subsection (a) to resign if:
(1) the trustee petitions the court; and
(2) the court determines that the trustee's resignation will be in the best interests of all the beneficiaries of the trust.
As added by P.L.199-1996, SEC.2.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 30-4-3-29.5
What does Indiana Code § 30-4-3-29.5 cover?
Section 30-4-3-29.5 ("Corporate trustee that acquires trust due to change in control") 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 § 30-4-3-29.5?
A common citation format is "Indiana Code § 30-4-3-29.5" (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 § 30-4-3-29.5 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.