Indiana § 30-4-8-6 - Qualified trustees; duties
Full text of Indiana Indiana Code § 30-4-8-6 — Qualified trustees; duties, with citation guidance and answers to common questions.
§ 30-4-8-6. Qualified trustees; duties
Sec. 6. (a) A person may serve as a qualified trustee of a legacy trust if the person is not the transferor and satisfies either of the following requirements:
(1) In the case of an individual, the individual is a resident of Indiana.
(2) In all other cases, the person is:
(A) authorized by Indiana law to act as a trustee; and
(B) subject to the supervision of:
(i) the department of financial institutions; or
(ii) the federal Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, or any successor to these agencies.
(b) A qualified trustee shall do the following:
(1) Maintain or arrange for providing custody of the property subject to the qualified disposition in Indiana.
(2) Maintain complete and accurate records for the legacy trust on an exclusive or nonexclusive basis.
(3) Prepare or arrange for the preparation of all required tax returns for the legacy trust.
(4) Materially participate in the administration of the legacy trust.
As added by P.L.221-2019, SEC.9.
Frequently Asked Questions About Indiana § 30-4-8-6
What does Indiana Code § 30-4-8-6 cover?
Section 30-4-8-6 ("Qualified trustees; duties") 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 § 30-4-8-6?
A common citation format is "Indiana Code § 30-4-8-6" (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 § 30-4-8-6 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.