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IN HB1220
Bill
Status
Passed
3/23/2016
Primary Sponsor
Robert Heaton
Click for details
AI Summary
- Allows trustees of cemetery perpetual care funds established as trusts to withdraw funds without court authorization to pay perpetual care costs
- Permits withdrawals in amounts the trustee considers necessary, regardless of trust terms that would otherwise restrict withdrawals to lesser amounts
- Applies to trusts established under IC 23-14-48-2 for cemetery perpetual care funds
- Takes effect upon passage
- Declares an emergency for the act
Legislative Description
Withdrawals from cemetery perpetual care funds. Provides that if the perpetual care fund of a cemetery is established as a trust, the trustee may withdraw funds from it in accordance with the cemetery law and in an amount that the trustee considers necessary to pay the cost of perpetual care of the cemetery, even though terms of the trust would otherwise restrict withdrawals from the fund to a lesser amount.
Last Action
Public Law 163
3/23/2016
Committee Referrals
Civil Law2/8/2016
Judiciary1/11/2016
Full Bill Text
No bill text available