Sec. 4. Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets in order to bring the trust portfolio into compliance with the purposes, terms of the trust, distribution requirements, and other circumstances of the trust, and with the requirements of this chapter.
Ind. Code § 30-4-3.5-4
Review of trust assets
Known as the Indiana Uniform Prudent Investor Act
The act spans §§ 30-4-3.5-1 to 30-4-3.5-9 (13 sections).
Applied in 1 court decision — leading case Eiteljorg v. Eiteljorg (2011)
Most recently applied in Eiteljorg v. Eiteljorg (June 2011)
As added by P.L.137-1999, SEC.3
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.