Sec. 10. As used in this chapter, "principal" means property that is held in trust for distribution to a remainder beneficiary when the trust terminates or that will remain perpetually vested in the trustee.
Ind. Code § 30-2-14-10
"Principal" defined
Applied in 2 court decisions — leading case Marshall & Ilsley Trust Co., N.A. v. Woodward (2006)
Most recently applied in Stephanie A. Schrage v. In the Matter of the Seberger Living Trust u/t/d April 27, 2009 (March 2016)
As added by P.L.84-2002, SEC.2.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.