reglab/housing_qa huggingface dataset:
IN Code § 30-2-6-1 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 6. Exemption of Employee Benefit Trusts From Rule Against Perpetuities|30-2-6-1. Contributions; Self-Employment Retirement Fund

Sec. 1. Either:(1) a trust created by an employer as part of a stock bonus, pension, disability, death benefit, or profit-sharing plan for the benefit of some or all of his employees, to which contributions are made by the employer or employees, or both, for the purpose of distributing to the employees the earnings or principal, or both earnings and principal, of the fund held in trust; or(2) a retirement fund or trust which at any time is tax exempt under the provisions of the Internal Revenue Code and to which contributions are made by self-employed persons or qualified individuals for the purpose of providing pension or other benefits for themselves or their beneficiaries;may continue in perpetuity or for such time as may be necessary to accomplish the purpose for which such trust is created and shall not be invalid as violating any law against perpetuities or suspension of the power of alienation of the title to property.Formerly: Acts 1949, c.184, s.1; Acts 1953, c.253, s.1. As amended by P.L.2-1987, SEC.45.
IN Code § 30-2-6-2 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 6. Exemption of Employee Benefit Trusts From Rule Against Perpetuities|30-2-6-2. Income; Accumulation

Sec. 2. The income arising from any trust within the classification mentioned in the preceding section may be permitted to accumulate in accordance with the terms of such trust for as long a time as may be necessary to accomplish the purposes for which the same was created, notwithstanding any existing law or laws limiting the period during which trust income may be accumulated.Formerly: Acts 1949, c.184, s.2.
IN Code § 30-2-6-3 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 6. Exemption of Employee Benefit Trusts From Rule Against Perpetuities|30-2-6-3. Termination of Trust; Limitation of Actions

Sec. 3. No rule of law against perpetuities or suspension of the power of alienation of the title to property, or the accumulation of income, shall operate to invalidate any trust created or attempted to be created before September 10, 1949, by an employer as part of a stock bonus, pension, disability, death benefit, or profit-sharing plan for the benefit of some or all of his employees, to which contributions are made by the employer or employees or both for the earnings and principal of the fund held in trust, unless the trust is terminated by a court of competent jurisdiction in a suit instituted before September 11, 1950.Formerly: Acts 1949, c.184, s.3. As amended by Acts 1982, P.L.171, SEC.105.
IN Code § 30-2-7-1 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 7. Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings|30-2-7-1. Definitions

Sec. 1. As used in this chapter, unless the context or subject-matter requires otherwise:(a) "Liquidation proceeding" includes all assignments for the benefit of creditors, whether voluntary or by operation of law; administration of insolvent decedents' estates; liquidations of insolvent banks; equity receiverships where the subject under receivership is insolvent; and any other proceedings for distribution of assets of any insolvent debtor, whether a person, decedent's estate, partnership, limited liability company, corporation, or business association.(b) "Liquidator" means any person administering assets in any liquidation proceeding as defined in this chapter.(c) "Insolvent debtor" means any insolvent person, decedent's estate, partnership, limited liability company, corporation, or business association involved in a liquidation proceeding as defined in this chapter.(d) "Secured creditor" means a creditor who has either legal or equitable security for his debt upon any property of the insolvent debtor of a nature to be liquidated and distributed in a liquidation proceeding, or a creditor to whom is owed a debt for which such security is possessed by some indorser, surety, or other person secondarily liable.(e) "Creditor's sale" includes any sale effected by the secured creditor by judicial process or otherwise under the terms of his contract or the applicable law for the purpose of realizing upon his security.Formerly: Acts 1941, c.50, s.1. As amended by Acts 1982, P.L.171, SEC.106; P.L.8-1993, SEC.464.
IN Code § 30-2-7-2 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 7. Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings|30-2-7-2. Secured Creditors' Claim Must Disclose Security

Sec. 2. In a liquidation proceeding every secured creditor's claim against the general assets shall disclose the nature of the security. When a decedent's estate already in the course of administration is judicially declared insolvent or when in an equity receivership it is determined that the subject under receivership is insolvent, secured creditors having claims on file which do not comply with this section shall make disclosure within a time to be fixed by the court.Formerly: Acts 1941, c.50, s.2.
IN Code § 30-2-7-3 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 7. Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings|30-2-7-3. Effect of Concealment

Sec. 3. Any secured creditor who with intent to evade the provisions of this chapter fails to disclose the existence of the security shall not be entitled to receive or retain dividends out of the general assets, unless he thereafter releases or surrenders to the liquidator the security which he has failed to disclose, or unless he procures such release or surrender if the security is in the possession of an indorser, surety, or other person secondarily liable for the insolvent debtor.Formerly: Acts 1941, c.50, s.3. As amended by Acts 1982, P.L.171, SEC.107.
IN Code § 30-2-7-4 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 7. Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings|30-2-7-4. Value of Security Credited Upon Claims

Sec. 4. Dividends paid to secured creditors shall be computed only upon the balance due after the value of all security not exempt from the claims of unsecured creditors and not released or surrendered to the liquidator, is determined and credited upon the claim secured by it.Formerly: Acts 1941, c.50, s.4.
IN Code § 30-2-7-5 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 7. Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings|30-2-7-5. Determination of Value by Secured Creditor

Sec. 5. (1) By collection. When the asset constituting the security is an obligation for the payment of money, the secured creditor may determine its value by collection or by exhausting his remedies thereon and then surrendering the obligation to the liquidator.(2) By creditor's sale. When the asset constituting the security is something other than an obligation for the payment of money, the secured creditor may determine its value by creditor's sale.Formerly: Acts 1941, c.50, s.5.
IN Code § 30-2-7-6 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 7. Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings|30-2-7-6. Alternative Determination of Value

Sec. 6. Where valuation under the provisions of section 5 of this chapter is impracticable or would cause undue delay, the court, upon petition by either the secured creditor or the liquidator, may order the value of the security determined by any of the following methods:(1) By compromise, if the secured creditor and the liquidator agree upon a value. The liquidator may redeem such assets by payment of the agreed value, if authorized by the court.(2) By litigation, through proceedings in the liquidation proceedings. The liquidator may redeem such assets by paying the value so determined, if authorized by the court.(3) By liquidator's sale of the assets which, when completed and approved by the court, shall pass to the purchaser good title, free and clear of all liens of the secured creditor, such liens to be transferred to the proceeds of the sale. The order of sale may be either:(a) conditional, requiring the sale to be made by the liquidator only if the secured creditor does not complete a determination by collection or creditor's sale as set forth in section 5 of this chapter within a time fixed by the court; or(b) absolute, requiring the sale to be made by the liquidator within a time fixed by the court.Provided, that subdivision (3) shall not apply to security upon real estate or insolvent decedents' estates administered by the court.Formerly: Acts 1941, c.50, s.6. As amended by Acts 1982, P.L.171, SEC.108.
IN Code § 30-2-7-7 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 7. Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings|30-2-7-7. Exempt Security Not Credited

Sec. 7. When any creditor has legal or equitable security upon assets which are exempt from process for the satisfaction of unsecured debts and are duly claimed as exempt by the insolvent debtor, the value of such security shall not be credited upon the claim. Amounts realized by the creditor from such security after liquidation proceedings are begun shall be disregarded in computing dividends, unless the dividend so computed exceeds the sum actually owing upon the claim, in which event only the amount owing shall be paid.Formerly: Acts 1941, c.50, s.7.
IN Code § 30-2-7-8 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 7. Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings|30-2-7-8. Uniformity of Interpretation

Sec. 8. This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it.Formerly: Acts 1941, c.50, s.9. As amended by Acts 1982, P.L.171, SEC.109.
IN Code § 30-2-7-9 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 7. Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings|30-2-7-9. Short Title

Sec. 9. This chapter may be cited as Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings.Formerly: Acts 1941, c.50, s.10. As amended by Acts 1982, P.L.171, SEC.110.
IN Code § 30-2-8.5-1 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-1. "Adult" Defined

Sec. 1. As used in this chapter, "adult" means an individual who is at least twenty-one (21) years of age.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-2 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-2. "Benefit Plan" Defined

Sec. 2. As used in this chapter, "benefit plan" means an employer's plan for the benefit of an employee or partner.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-3 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-3. "Broker" Defined

Sec. 3. As used in this chapter, "broker" means a person lawfully engaged in the business of effecting transactions in securities or commodities, or both, for the person's own account or for the account of others, or both.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-4 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-4. "Custodial Property" Defined

Sec. 4. As used in this chapter, "custodial property" means:(1) an interest in property transferred to a custodian under this chapter; and(2) the income from and proceeds of that interest in property.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-5 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-5. "Custodian" Defined

Sec. 5. As used in this chapter, "custodian" means a person designated as a custodian under section 24 of this chapter or a successor or substitute custodian designated under section 33 of this chapter.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-6 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-6. "Financial Institution" Defined

Sec. 6. As used in this chapter, "financial institution" means a bank, trust company, savings institution, or credit union chartered and supervised under state or federal law.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-7 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-7. "Guardian" Defined

Sec. 7. As used in this chapter, "guardian" has the meaning set forth in IC 29-3-1-6.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-8 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-8. "Legal Representative" Defined

Sec. 8. As used in this chapter, "legal representative" means an individual's personal representative or guardian.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-9 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-9. "Members of the Minor's Family" Defined

Sec. 9. As used in this chapter, "member of the minor's family" means the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood or by adoption.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-10 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-10. "Minor" Defined

Sec. 10. As used in this chapter, "minor" means an individual who is less than twenty-one (21) years of age.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-11 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-11. "Person" Defined

Sec. 11. As used in this chapter, "person" means an individual, corporation, organization, or other legal entity.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-12 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-12. "Personal Representative" Defined

Sec. 12. As used in this chapter, "personal representative" means an executor, administrator, successor personal representative, or special administrator of a decedent's estate or a person legally authorized to perform substantially the same functions.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-13 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-13. "State" Defined

Sec. 13. As used in this chapter, "state" includes a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and a territory or possession subject to the legislative authority of the United States.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-14 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-14. "Transfer" Defined

Sec. 14. As used in this chapter, "transfer" means a transaction that creates custodial property under section 24 of this chapter.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-15 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-15. "Transferor" Defined

Sec. 15. As used in this chapter, "transferor" means a person who makes a transfer under this chapter.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-16 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-16. "Trust Company" Defined

Sec. 16. As used in this chapter, "trust company" means a financial institution, corporation, or other legal entity authorized to exercise general trust powers.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-17 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-17. Scope and Jurisdiction

Sec. 17. (a) This chapter applies to a transfer that refers to this chapter in the designation under section 24(a) of this chapter by which the transfer is made if, at the time of the transfer, the transferor, the minor, or the custodian is a resident of Indiana or the custodial property is located in Indiana. The custodianship created under this section remains subject to this chapter despite:(1) a change in residence of:(A) a transferor;(B) the minor; or(C) the custodian; or(2) the removal of custodial property from Indiana.(b) A person designated as custodian under this chapter is subject to personal jurisdiction in Indiana with respect to a matter relating to the custodianship.(c) A transfer that purports to be made and that is valid under the uniform transfers to minors act, the uniform gifts to minors act or a substantially similar act of another state is governed by the law of the designated state and may be executed and is enforceable in Indiana if at the time of the transfer the transferor, the minor, or the custodian is a resident of the designated state or the custodial property is located in the designated state.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-18 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-18. Nomination of Custodian

Sec. 18. (a) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by naming the custodian, followed by the words: "as custodian for ________________________ (name of minor) under the Indiana uniform transfers to minors act". The nomination may name one (1) or more persons as substitute custodians to whom the property shall be transferred, in the order named, if the first nominated custodian dies before the transfer or is unable, declines, or is ineligible to serve. The nomination may be made in a will, a trust, a deed, an instrument exercising a power of appointment, or in a writing designating a beneficiary of contractual rights that is registered with or delivered to the payor, issuer, or other obligor of the contractual rights.(b) A custodian nominated under this section must be a person to whom a transfer of property of that kind may be made under section 24(a) of this chapter.(c) The nomination of a custodian under this section does not create custodial property until the nominating instrument becomes irrevocable or a transfer to the nominated custodian is completed under section 24 of this chapter. Unless the nomination of a custodian has been revoked, upon the occurrence of the future event the custodianship becomes effective and the custodian shall enforce a transfer of the custodial property under section 24 of this chapter.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-19 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-19. Transfer by Gift or Exercise of Power of Appointment

Sec. 19. A person may make:(1) a transfer by irrevocable gift to; or(2) an irrevocable exercise of a power of appointment in favor of;a custodian for the benefit of a minor under section 24 of this chapter.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-20 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-20. Transfer Authorized by Will or Trust; Designation of Custodian

Sec. 20. (a) A personal representative or trustee may make an irrevocable transfer under section 24 of this chapter to a custodian for the benefit of a minor as authorized in the governing will or trust.(b) If the testator or settlor has nominated a custodian under section 18 of this chapter to receive the custodial property, the transfer shall be made to that person.(c) If the testator or settlor has not nominated a custodian under section 18 of this chapter, or a person nominated as custodian dies before the transfer or is unable, declines, or is ineligible to serve, the personal representative or the trustee shall designate the custodian from among those eligible to serve as custodian for property of that kind under section 24(a) of this chapter. The personal representative or trustee may be designated as custodian under this subsection if the personal representative or trustee is eligible to serve as custodian for property of that kind under section 24(a) of this chapter.As added by P.L.267-1989, SEC.2. Amended by P.L.95-2007, SEC.15.
IN Code § 30-2-8.5-21 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-21. Other Transfers by Fiduciary; Guardian as Custodian

Sec. 21. (a) A personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor under section 24 of this chapter in the absence of a will or under a will or trust that does not contain an authorization to do so. The personal representative or trustee may also serve as the custodian of the transferred property if the personal representative or trustee is qualified under section 24 of this chapter.(b) A guardian may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor under section 24 of this chapter. The guardian may also serve as the custodian of the transferred property if the guardian is qualified under section 24 of this chapter.(c) A transfer under subsection (a) or (b) may be made only if:(1) the personal representative, trustee, or guardian considers the transfer to be in the best interest of the minor;(2) the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, or other governing instrument; and(3) the transfer is authorized by the court if the property transferred exceeds ten thousand dollars ($10,000) in value.As added by P.L.267-1989, SEC.2. Amended by P.L.95-2007, SEC.16.
IN Code § 30-2-8.5-22 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-22. Transfer by Obligor

Sec. 22. (a) A person not subject to section 20 or 21 of this chapter that holds property of or owes a liquidated debt to a minor not having a guardian may make an irrevocable transfer to a custodian for the benefit of the minor under section 24 of this chapter.(b) If a person having the right to nominate a custodian under section 18 of this chapter has nominated a custodian under that section to receive the custodial property, the transfer shall be made to the custodian.As added by P.L.267-1989, SEC.2.