Indiana Code
Chapter 3. Powers and Duties
28-14-3-13. Appointment as Executor, Testamentary Trustee, or Administrator; Corporate Successor to Will Nominee; Co-Fiduciary With Natural Person; Bond or Security

Sec. 13. (a) A corporate fiduciary may:
(1) be appointed; and
(2) accept the appointment;
to act as executor or trustee under the last will and testament, or as administrator, with or without the will annexed, of the estate of any deceased person.
(b) A corporate fiduciary may:
(1) be appointed; and
(2) act under the order of appointment of any court of competent jurisdiction;
as executor of or trustee under any last will and testament, whenever the corporate fiduciary is the successor to any corporation appointed in the last will and testament, whether such succession is the result of merger, consolidation, or otherwise.
(c) Whenever a natural person is appointed with a corporate fiduciary in an appointment as receiver, guardian, commissioner, trustee, executor, or administrator with or without the will annexed, the appointment of the natural person may be:
(1) under such limitation of powers; and
(2) upon such terms and conditions as to:
(A) the possession and control of the trust assets by the corporate fiduciary, or otherwise; and
(B) the bond or security, if any, to be given by the natural person;
as the natural person and the corporate fiduciary may agree to and the court making the appointment shall approve.
(d) Whenever a natural person who is appointed in a fiduciary capacity is required to give a bond or security for the faithful performance of the natural person's duties, a corporate fiduciary may guarantee or become surety for the natural person:
(1) if the corporate fiduciary takes possession and control of the assets belonging to the estate or other fiduciary relationship; and
(2) if the court having jurisdiction of the corporate fiduciary approves the guaranteeing or becoming surety for the natural person.
As added by P.L.262-1995, SEC.90.

Structure Indiana Code

Indiana Code

Title 28. Financial Institutions

Article 14. Corporate Fiduciaries

Chapter 3. Powers and Duties

28-14-3-1. Scope of Chapter

28-14-3-2. Corporate Name

28-14-3-3. Articles of Incorporation

28-14-3-4. Loans

28-14-3-5. Securities Held by Clearing Corporation

28-14-3-6. United States Government Securities

28-14-3-7. Benefits; Incentives; Stock Purchase Programs

28-14-3-8. Subsidiaries

28-14-3-9. Investment and Reinvestment of Assets

28-14-3-10. Acting as Fiscal or Transfer Agent

28-14-3-11. Acting as Insurance Producer for Sale of Annuity Contract or Life Insurance Policy

28-14-3-12. Appointment as Commissioner for Sale of Real Estate; Guardian of Minor or Incapacitated Persons; Trustee, Receiver, Conservator, or Committee of Property or Estate in Insolvency or Bankruptcy Proceedings; Depository of Funds Paid Into Cou...

28-14-3-13. Appointment as Executor, Testamentary Trustee, or Administrator; Corporate Successor to Will Nominee; Co-Fiduciary With Natural Person; Bond or Security

28-14-3-14. Appointment Upon Application or Consent of Person Acting or Entitled to Serve as Guardian, Trustee, Executor, or Administrator

28-14-3-15. Trusts

28-14-3-16. Power to Act in Fiduciary Capacity; Acting as Commissioner for Sale of Real Estate Without Bond or Security; Administration of Oaths

28-14-3-17. Pledge or Deposit of Assets Prohibited

28-14-3-18. Receipt of Property Upon Deposit for Safekeeping or in Escrow

28-14-3-19. Compensation for Fiduciary Services; Counsel Fees

28-14-3-20. Compensation or Commission for Loan Negotiation or Trust Execution Not Considered Interest or Usury

28-14-3-21. Appointment by Court Having Jurisdiction; Power to Renounce Appointment

28-14-3-22. Nonresident Fiduciaries; Establishment of Indiana Office; Rights, Privileges, and Restrictions

28-14-3-23. Service as Successor Trustee

28-14-3-24. Credit Union Service Organizations

28-14-3-25. Powers Relating to Common Trust Funds