Sec. 5. (a) Notwithstanding any other law, a corporate fiduciary holding securities in a fiduciary capacity is authorized to deposit or arrange for the deposit of the securities in a clearing corporation.
(b) When securities are deposited in a clearing corporation under subsection (a), certificates representing securities of the same class of the same issuer may be merged and held in the name of the nominee of the clearing corporation. The records of the corporate fiduciary acting as custodian, managing agent, or custodian for a fiduciary must at all times show the name of the party for whose account the securities are deposited.
(c) Title to the securities held by the clearing corporation under this section may be transferred by bookkeeping entry on the books of the clearing corporation without physical delivery of certificates representing the securities.
As added by P.L.262-1995, SEC.90.
Structure Indiana Code
Title 28. Financial Institutions
Article 14. Corporate Fiduciaries
28-14-3-3. Articles of Incorporation
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
28-14-3-9. 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
28-14-3-17. 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
28-14-3-21. Appointment by Court Having Jurisdiction; Power to Renounce Appointment
28-14-3-23. Service as Successor Trustee