Illegality
Applied in 1 court decision — leading case 661 F. Supp. 2d 989 - Evansville Greenway & Remediation Trust v. Southern Indiana Gas & Electric Co. (2009)
Most recently applied in 661 F. Supp. 2d 989 - Evansville Greenway & Remediation Trust v. Southern Indiana Gas & Electric Co. (September 2009)
Formerly: Acts 1971, P.L.416, SEC.3.
Sec. 12. (Illegality)
(a) The terms of the trust may not require the trustee to commit a criminal or tortious act or an act which is contrary to public policy.
(b) A trust with terms which violate subsection (a) of this section is invalid unless the prohibited term is separable. If the prohibited term is separable, only it is invalid and the remainder of the trust is valid.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.