Indiana Code
Chapter 8.6. Uniform Custodial Trust Act
30-2-8.6-36. Claim Against Custodial Trustee's Claim Barred Against Other Parties

Sec. 36. (a) Except as provided in subsection (c), and unless previously barred by adjudication, consent, or limitation, a claim for relief against a custodial trustee for accounting or breach of duty is barred as to a beneficiary, a person to whom custodial trust property is to be paid or delivered, or the legal representative of an incapacitated or deceased beneficiary or payee:
(1) who has received a final account or statement fully disclosing the matter, unless an action or proceeding to assert the claim is commenced not later than two (2) years after receipt of the final account or statement; or
(2) who has not received a final account or statement fully disclosing the matter, unless an action or proceeding to assert the claim is commenced not later than three (3) years after the termination of the custodial trust.
(b) Except as provided in subsection (c), a claim for relief to recover from a custodial trustee for fraud, misrepresentation, or concealment related to the final settlement of the custodial trust or concealment of the existence of the custodial trust is barred unless an action or proceeding to assert the claim is commenced not later than five (5) years after the termination of the custodial trust.
(c) The limitations on a claim for relief are as follows:
(1) If the claimant is a minor, the claim is barred unless an action or proceeding to assert the claim is commenced before the earlier of the following:
(A) Two (2) years after the claimant becomes an adult.
(B) Two (2) years after the claimant dies.
(2) If the claimant is an incapacitated adult, the claim is barred unless an action or proceeding to assert the claim is commenced before the earliest of the following:
(A) Two (2) years after the appointment of a guardian for claimant.
(B) Two (2) years after the removal of the incapacity.
(C) Two (2) years after the death of the claimant.
(3) If the claimant:
(A) was an adult;
(B) is deceased; and
(C) was not incapacitated;
the claim is barred unless an action or proceeding to assert the claim is commenced not later than two (2) years after the claimant's death.
As added by P.L.3-2003, SEC.1.

Structure Indiana Code

Indiana Code

Title 30. Trusts and Fiduciaries

Article 2. General Provisions

Chapter 8.6. Uniform Custodial Trust Act

30-2-8.6-1. Applicability

30-2-8.6-2. Transfer Under Other State's Law; Enforcement

30-2-8.6-3. Construction

30-2-8.6-4. Citing Chapter

30-2-8.6-5. "Adult"

30-2-8.6-6. "Beneficiary"

30-2-8.6-7. "Custodial Trust Property"

30-2-8.6-8. "Custodial Trustee"

30-2-8.6-9. "Guardian"

30-2-8.6-10. "Incapacitated"

30-2-8.6-11. "Legal Representative"

30-2-8.6-12. "Member of the Beneficiary's Family"

30-2-8.6-13. "Person"

30-2-8.6-14. "Personal Representative"

30-2-8.6-15. "State"

30-2-8.6-16. "Transferor"

30-2-8.6-17. "Trust Company"

30-2-8.6-18. Creating a Custodial Trust

30-2-8.6-19. Terminating a Custodial Trust

30-2-8.6-20. Adding Trust Property

30-2-8.6-21. Successor Custodial Trustee

30-2-8.6-22. Creation and Enforcement of Trust Under Other Law

30-2-8.6-23. Custodial Trust Upon Occurrence of Future Event

30-2-8.6-24. Custodial Trustee's Acceptance of Trust Property

30-2-8.6-25. Transfer for Use and Benefit of Incapacitated Individual

30-2-8.6-26. Multiple Beneficiaries

30-2-8.6-27. Custodial Trustee's Powers and Duties

30-2-8.6-28. Rights and Powers

30-2-8.6-29. Distribution of Custodial Trust Property

30-2-8.6-30. Administering Custodial Trust for Incapacitated Beneficiary

30-2-8.6-31. Reliance on Person Purporting to Be Custodial Trustee

30-2-8.6-32. Claim by Third Person Against Custodial Trustee

30-2-8.6-33. Resigning or Declining to Serve as Custodial Trustee

30-2-8.6-34. Compensation of Custodial Trustee

30-2-8.6-35. Written Statement of Trust Administration; Petition for Accounting

30-2-8.6-36. Claim Against Custodial Trustee's Claim Barred Against Other Parties

30-2-8.6-37. Termination of a Custodial Trust

30-2-8.6-38. Creating a Custodial Trust

30-2-8.6-39. Severability