Indiana § 30-4-3-37 - Unclaimed trust shares; disposition procedures
Full text of Indiana Indiana Code § 30-4-3-37 — Unclaimed trust shares; disposition procedures, with citation guidance and answers to common questions.
§ 30-4-3-37. Unclaimed trust shares; disposition procedures
Sec. 37. (a) If a beneficiary of a trust cannot be found after a reasonable search, the trustee may file a petition setting out the facts of the unsuccessful search. The court may order the trustee to sell the shares of the trust to which the beneficiary is entitled and to pay the proceeds to the clerk of the court. The clerk shall hold the proceeds for the use and benefit of the person or persons thereafter determined by law to be entitled to the proceeds.
(b) If a trustee pays any money to the clerk of the court under this section, the trustee shall file a receipt with the court. Filing the receipt is sufficient to discharge the trustee in the same manner and to the same extent as though the trustee had paid or distributed the appropriate share of the trust to the unlocated beneficiary.
(c) This section does not apply to stocks, dividends, capital credits, patronage, refunds, utility deposits, membership fees, account balances, or book equities for which the owner cannot be found that are the result of distributable savings of a rural electric membership corporation formed under IC 8-1-13, a rural communications cooperative corporation formed under IC 8-1-17, or an agricultural cooperative association formed under IC 15-12-1.
As added by P.L.6-2010, SEC.20. Amended by P.L.81-2020, SEC.17.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 30-4-3-37
What does Indiana Code § 30-4-3-37 cover?
Section 30-4-3-37 ("Unclaimed trust shares; disposition procedures") 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 § 30-4-3-37?
A common citation format is "Indiana Code § 30-4-3-37" (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 § 30-4-3-37 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.