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Ind. Code § 30-4-8-15

Resignation of qualified trustee; appointing successor trustees

As added by P.L.221-2019, SEC.9.

Sec. 15. If:

(1) a qualified trustee of a legacy trust ceases to meet the requirements of section 6 of this chapter; and

(2) there remains no trustee of the legacy trust that meets the requirements of section 6 of this chapter;

the qualified trustee described in subdivision (1) is considered to have resigned when the qualified trustee ceased to meet the requirements of section 6 of this chapter, and a successor trustee provided for in the legacy trust shall become a qualified trustee. If the legacy trust does not provide for a successor qualified trustee, a court shall appoint a successor qualified trustee upon the application of any interested party.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.