reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 10. Funeral Trust Funds › 30-2-10-5. Contracts; Required Provisions

Sec. 5. The contract under which funds are accepted under this chapter must be in writing and contain, as a minimum, the following provisions:
(1) Details of the professional services, facilities, equipment, and a description of merchandise to be provided by the beneficiary. If the merchandise or equipment includes a vault (as defined in IC 23-14-33-33) that:
(A) will be used to encase the remains of a deceased individual; and
(B) is not airtight and watertight;
the details must include a written statement indicating that the vault is not airtight and watertight.
(2) A provision that the beneficiary may provide merchandise of equal or better quality if the merchandise contracted for is no longer available at the time the merchandise is to be provided.
(3) The place of the funeral and the place of the burial or other final disposition to be made of the decedent.
(4) An acknowledgment by the settlor that the settlor understands the irrevocable nature of the trust.
(5) A provision for reasonable adjustment of the services, or cost of services, if the body is transported a distance greater than twenty-five (25) miles to the place of funeral or the place of burial or final disposition and transportation of a distance in excess of twenty-five (25) miles was not contemplated at the time of the execution of the contract.
(6) A provision for full payment of the contract amount by the settlor, a description of the manner in which the funds are to be deposited, and a statement that the interest will accrue to the trust account and a further statement that the principal and interest earned shall inure to the beneficiary to cover all the costs incident to the beneficiary's performance of the contract, any excess to be refunded to the estate of the settlor or to the heirs at law.
(7) The settlor's name, address, and social security number.
(8) The date that the funeral trust is executed by the settlor.
(9) The trustee's name and address.
(10) The beneficiary's license number issued by the state board of funeral service.
(11) A provision that except under the circumstances described in subsection (12), only the settlor may change the beneficiary, that the settlor may make the change at any time, and that the change is not effective until written notification is given to the original beneficiary.
(12) A provision that allows the state board of funeral service to change the beneficiary by naming a funeral home as new beneficiary if the original beneficiary becomes deceased, dissolved, terminated, or otherwise loses beneficiary status as a licensee of the state board, and the settlor or the settlor's guardian or personal representative fails to select a qualified beneficiary.
As added by Acts 1982, P.L.179, SEC.2. Amended by P.L.246-1985, SEC.24; P.L.61-2008, SEC.5.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 10. Funeral Trust Funds › 30-2-10-6. Change of Beneficiary; Procedure

Sec. 6. If the settlor changes the beneficiary, he must:
(1) select a new beneficiary licensed under IC 25-15, or a funeral home or a funeral director licensed in another state; and
(2) give written notification to the funeral home originally named as beneficiary.
As added by Acts 1982, P.L.179, SEC.2. Amended by P.L.246-1985, SEC.25.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 10. Funeral Trust Funds › 30-2-10-7. Delivery of Copy of Contract to Settlor

Sec. 7. (a) The settlor shall be furnished an executed copy of the contract.
(b) If a contract has been approved and signed by both parties and a copy of the contract has been delivered to the settlor, no further notification to the settlor related to the contract is required.
As added by Acts 1982, P.L.179, SEC.2.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 10. Funeral Trust Funds › 30-2-10-8. Management of Funds by Financial Institutions; Annual Reports From Beneficiaries

Sec. 8. (a) Indiana financial institutions in which trust funds have been deposited in accordance with this chapter may place the funds in a common or commingled trust fund under a single trust instrument. The trustee shall maintain a separate accounting record for each trust fund.
(b) All interest earned by funds deposited in accordance with this chapter accrue to the trust.
(c) The trustee shall disburse the funds deposited in accordance with this chapter to the named beneficiary to discharge an obligation arising from any contract described in section 5 of this chapter, upon receipt of evidence satisfactory to the trustee that the contract has been performed.
(d) A funeral home, licensed under IC 25-15 that is named as beneficiary of funeral trust funds under this chapter shall annually report the following to the state board of funeral service:
(1) The funeral home's name, Indiana license number, and officers.
(2) The name and address of any trustee with which funeral trust funds are deposited for the funeral home.
(e) No bonds or permits are required from funeral homes that enter into contracts described in section 5 of this chapter.
As added by Acts 1982, P.L.179, SEC.2. Amended by P.L.246-1985, SEC.26.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 10. Funeral Trust Funds › 30-2-10-8.5. Management of Settlor's Funds by Registered Investment Adviser

Sec. 8.5. (a) The bank, trust company, savings association, or credit union that receives the payments made by a settlor under section 2 of this chapter may enter into a contract under which the account into which the settlor's payments are deposited is managed by a third party.
(b) To manage the funds in a settlor's account under subsection (a), a third party must be:
(1) an investment adviser registered with the United States Securities and Exchange Commission under the federal Investment Advisers Act of 1940 (15 U.S.C. 80b-1 et seq.); or
(2) an investment adviser registered under IC 23-19-4.
(c) In managing the funds in a settlor's account under subsection (a), an investment adviser shall comply in all respects with the Indiana Uniform Prudent Investor Act under IC 30-4-3.5-1(c)(3).
As added by P.L.53-2015, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 10. Funeral Trust Funds › 30-2-10-9. Violations; Offense

Sec. 9. (a) Except as provided in subsections (b) and (c), a person who knowingly violates this chapter commits a Class A misdemeanor.
(b) A person who knowingly or intentionally uses or disburses funds in a funeral trust established under this chapter for purposes other than the purposes required under this chapter commits a Level 5 felony.
(c) A trustee that disburses funds in a funeral trust established under this chapter without verifying:
(1) the death of the individual for whom services are to be provided under the contract; and
(2) that the beneficiary fully performed all funeral and burial services provided for in the contract;
through the use of documentation required under rules adopted by the state board of funeral and cemetery service established by IC 25-15-9-1 commits a Class A infraction.
As added by Acts 1982, P.L.179, SEC.2. Amended by P.L.207-1993, SEC.24; P.L.113-2007, SEC.9; P.L.61-2008, SEC.6; P.L.1-2009, SEC.152; P.L.158-2013, SEC.305.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 10. Funeral Trust Funds › 30-2-10-10. Incapacity, Resignation, and Removal of Trustees

Sec. 10. IC 30-4-3-29 governs procedures concerning the incapacity, resignation, or removal of a trustee.
As added by Acts 1982, P.L.179, SEC.2.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-0.4. Short Title

Sec. 0.4. This chapter may be cited as the Uniform Prudent Management of Institutional Funds Act.
As added by P.L.85-2016, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-1. Application of Chapter

Sec. 1. (a) This chapter applies to an institutional fund in existence after June 30, 2007.
(b) For an institutional fund in existence before July 1, 2007, this chapter applies only to decisions made or actions taken after June 30, 2007.
As added by P.L.268-1989, SEC.1. Amended by P.L.226-2007, SEC.7.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-1.3. "Charitable Purpose" Defined

Sec. 1.3. As used in this chapter, "charitable purpose" means the following:
(1) Relief of poverty.
(2) Advancement of education.
(3) Advancement of religion.
(4) Promotion of health.
(5) Promotion of a governmental purpose.
(6) Any other purpose the achievement of which benefits the community.
As added by P.L.226-2007, SEC.8.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-2. "Endowment Fund" Defined

Sec. 2. As used in this chapter, "endowment fund" means an institutional fund, or any part of the fund, not wholly expendable by the institution on a current basis under the terms of the applicable gift instrument. The term does not include assets that an institution designates as an endowment fund for the institution's use.
As added by P.L.268-1989, SEC.1. Amended by P.L.226-2007, SEC.9.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-3. "Gift Instrument" Defined

Sec. 3. As used in this chapter, "gift instrument" means a record, including any institutional solicitations, under which property is granted or transferred to or held by an institution as an institutional fund.
As added by P.L.268-1989, SEC.1. Amended by P.L.226-2007, SEC.10.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-5. "Institution" Defined

Sec. 5. As used in this chapter, "institution" means any of the following:
(1) A person, other than an individual, that is organized and operated exclusively for charitable purposes.
(2) The state, including any agency or instrumentality of the state, or a unit of local government to the extent that the state or unit holds funds exclusively for charitable purposes.
(3) A trust that has only charitable interests, including a trust:
(A) that previously had both charitable and noncharitable interests; and
(B) the noncharitable interests of which were previously terminated.
As added by P.L.268-1989, SEC.1. Amended by P.L.199-1991, SEC.1; P.L.266-1995, SEC.2; P.L.2-2007, SEC.356; P.L.226-2007, SEC.11; P.L.3-2008, SEC.227.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-6. "Institutional Fund" Defined

Sec. 6. As used in this chapter, "institutional fund" means a fund held by an institution exclusively for charitable purposes. The term does not include the following:
(1) A fund held for an institution by a trustee that is not an institution.
(2) A fund in which a beneficiary that is not an institution has an interest, other than possible rights that could arise upon violation or failure of the purposes of the fund.
(3) Assets held by an institution primarily for charitable purposes and not primarily for investment purposes.
As added by P.L.268-1989, SEC.1. Amended by P.L.266-1995, SEC.3; P.L.226-2007, SEC.12.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-6.4. "Person" Defined

Sec. 6.4. As used in this chapter, "person" means an individual, a corporation, a business trust, an estate, a trust, a partnership, a limited liability company, an association, a joint venture, a public corporation, the state of Indiana, a state agency or instrumentality, a unit of local government, or any other legal or commercial entity.
As added by P.L.226-2007, SEC.13.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-6.7. "Record" Defined

Sec. 6.7. As used in this chapter, "record" means information that is:
(1) inscribed on a tangible medium; or
(2) stored in an electronic or other medium; and
is retrievable in a perceivable form.
As added by P.L.226-2007, SEC.14.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-9. Appropriation or Accumulation of Endowment Funds; Gift Instrument

Sec. 9. (a) Subject to the terms of a gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund that the institution determines is prudent for the uses, benefits, purposes, and duration of the endowment fund. Except as provided in a gift instrument, the assets in an endowment fund are donor restricted until appropriated by the institution.
(b) In determining to appropriate or accumulate endowment funds, an institution shall:
(1) act in good faith and with the care a prudent person acting in a like position would use under similar circumstances; and
(2) consider the following factors:
(A) The duration and preservation of the endowment fund.
(B) The purposes of the institution and the endowment fund.
(C) General economic conditions.
(D) The possible effects of inflation or deflation.
(E) The expected total return from income and the appreciation of investments.
(F) Other resources of the institution.
(G) The investment policy of the institution.
(c) To be effective, a gift instrument must specifically state a limitation on the authority of an institution to appropriate or accumulate under subsection (a).
(d) A gift instrument that designates a gift as an endowment or contains a direction or authorization to use only income, interest, dividends, rents, issues, or profits, or to preserve the principal intact, or a similar direction:
(1) creates an endowment fund of permanent duration unless the gift instrument states otherwise; and
(2) does not otherwise limit the authority to appropriate or accumulate under subsection (a).
As added by P.L.268-1989, SEC.1. Amended by P.L.226-2007, SEC.15.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-10. Repealed

As added by P.L.268-1989, SEC.1. Amended by P.L.8-1993, SEC.467. Repealed by P.L.226-2007, SEC.24.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-12. Repealed

As added by P.L.268-1989, SEC.1. Amended by P.L.199-1991, SEC.2. Repealed by P.L.226-2007, SEC.24.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-15. Delegation of Management or Investment of Institutional Fund; Duties of Agent

Sec. 15. (a) Subject to the terms of a gift instrument and except as provided in any other law, an institution may delegate to an agent the management or investment of an institutional fund. The institution shall act in good faith and with the care a prudent person acting in a like position would use under similar circumstances in doing the following:
(1) Selecting an agent.
(2) Establishing the scope and terms of the delegation, subject to the purposes of the institution and the institutional fund.
(3) Periodically reviewing the agent's actions to monitor the agent's performance of and compliance with the scope and terms of the delegation.
An institution that complies with this subsection is not liable for the decisions or actions of an agent to whom the management or investment of an institutional fund is delegated.
(b) An agent shall exercise reasonable care to perform a delegated function in compliance with the scope and terms of the delegation.
(c) An agent that accepts the delegation of a management or investment function from an institution submits to the jurisdiction of Indiana courts in all proceedings concerning the delegation or the performance of a delegated function.
(d) An institution may delegate management or investment functions to its committees, officers, or employees as otherwise provided by law.
As added by P.L.226-2007, SEC.18.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-16. Determination of Compliance

Sec. 16. Compliance with this chapter shall be determined in light of the facts and circumstances existing at the time a decision is made or action is taken and not by hindsight.
As added by P.L.226-2007, SEC.19.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-17. Effect on Existing Law

Sec. 17. (a) Except as provided in subsection (b), this chapter modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq.
(b) This chapter does not:
(1) modify, limit, or supersede 15 U.S.C. 7001(a); or
(2) authorize electronic delivery of a notice described in 15 U.S.C. 7003(b).
As added by P.L.226-2007, SEC.20.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 12. Uniform Management of Institutional Funds Act › 30-2-12-18. Consideration for Uniformity of Law

Sec. 18. In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
As added by P.L.226-2007, SEC.21.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-1. Applicability of Chapter

Sec. 1. (a) Except as provided in subsection (b), this chapter applies to any written agreement between a purchaser and a seller that obligates the seller to provide prepaid services or merchandise, or both, for a named individual in conjunction with the death, funeral, burial, or final disposition of the individual.
(b) Except as provided in subsections (c) and (d), this chapter does not apply to the following:
(1) Perpetual care funds under IC 23-14-48.
(2) The sale of burial rights. However, this chapter applies to the sale of services or merchandise sold in conjunction with the sale of burial rights and to the use of free or discounted burial rights as an inducement for a purchaser to transfer sellers.
(3) A contract between a purchaser and a seller that requires delivery of prepaid services or merchandise, or both, not later than one (1) year after the date of final payment and for circumstances other than death.
(c) The annual reporting requirements of section 31 of this chapter apply to a perpetual care fund.
(d) The solicitation requirements of section 24 of this chapter and the provisions concerning inducement in section 13(h) of this chapter apply to the sale of burial rights.
As added by P.L.200-1991, SEC.1. Amended by P.L.207-1993, SEC.25; P.L.120-1994, SEC.2; P.L.241-1995, SEC.2; P.L.114-1999, SEC.1; P.L.14-2000, SEC.62.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-2. "Agent"

Sec. 2. As used in this chapter, "agent" means a person authorized by a seller to offer, sell, or solicit the sale of a contract on behalf of the seller and includes an employee or independent contractor of the seller.
As added by P.L.200-1991, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-2.5. "At-Need Services and Merchandise"

Sec. 2.5. (a) As used in this chapter, "at-need services and merchandise" includes personal property or services:
(1) listed in section 8(1) of this chapter; and
(2) purchased after the time of death.
(b) The term does not include burial rights.
As added by P.L.207-1993, SEC.26.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-3. "Board"

Sec. 3. As used in this chapter, "board" refers to the state board of funeral and cemetery service established by IC 25-15-9-1.
As added by P.L.200-1991, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-4. "Contract"

Sec. 4. As used in this chapter, "contract" means a written agreement between a purchaser and a seller that:
(1) obligates the seller to provide prepaid services or merchandise, or both, for a named individual; and
(2) becomes irrevocable thirty (30) days after the written agreement is signed by the purchaser and seller.
As added by P.L.200-1991, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-5. "Delivery"

Sec. 5. As used in this chapter, "delivery" means the time when:
(1) services are performed in connection with the funeral or other disposition of the purchaser or the individual for whom services are to be provided under the contract;
(2) except for merchandise described in section 8(1)(A) and 8(1)(C) of this chapter, the merchandise is:
(A) in the possession of the purchaser or used for the intended purpose of the merchandise; or
(B) permanently installed on or in cemetery property, the burial rights to which have been transferred or granted to the purchaser or individual for whose interment the merchandise is to be used; or
(3) except for merchandise described in section 8(1)(A) and 8(1)(C) of this chapter, the merchandise is:
(A) purchased by the seller and stored in manufactured form, in a manner and number equal to all merchandise sold, on the premises where the merchandise is to be used or installed and specifically identified in the name of the purchaser, although any applicable installation or final finishing fees remain subject to the terms of the contract made under this chapter; or
(B) permanently identified with the name of the purchaser or individual for whom the merchandise is to be provided and delivered to a warehouse, with both title to the merchandise and a warehouse receipt delivered to the purchaser, and notification to and acceptance of delivery acknowledged in writing by the purchaser.
As added by P.L.200-1991, SEC.1. Amended by P.L.241-1995, SEC.3; P.L.236-1995, SEC.52; P.L.114-1999, SEC.2.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-6. "Fund"

Sec. 6. As used in this chapter, "fund" refers to the preneed consumer protection fund established by section 28 of this chapter.
As added by P.L.200-1991, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-7. "Insurance Policy"

Sec. 7. As used in this chapter, "insurance policy" means a policy providing one (1) or more of the types of insurance described in IC 27-1-5-1, Class 1(a) and Class 1(c).
As added by P.L.200-1991, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-8. "Prepaid Services or Merchandise" or "Services or Merchandise"

Sec. 8. As used in this chapter, "prepaid services or merchandise" or "services or merchandise" includes personal property or services:
(1) typically sold or provided in connection with the final disposition or memorialization of human remains, including:
(A) caskets or other primary containers, including rental, temporary, or disposable caskets or containers;
(B) outer burial containers;
(C) cremation or transportation containers;
(D) funeral clothing or accessories;
(E) monuments;
(F) grave markers;
(G) cremation urns;
(H) embalming services;
(I) funeral directing services provided at the time of death and in connection with the final disposition of human remains;
(J) final date carving fees, including carving fees for double monuments;
(K) cremation;
(L) cremation services;
(M) other funeral and burial items, including items of service or merchandise that may be rented or leased; and
(N) services or merchandise otherwise described as cash advance items under section 11.5 of this chapter and sold directly by the seller and not provided by a third person; and
(2) purchased in advance of need to be provided or delivered after the death of the purchaser or individual for whom services or merchandise are to be provided in the contract.
As added by P.L.200-1991, SEC.1. Amended by P.L.207-1993, SEC.27; P.L.241-1995, SEC.4; P.L.114-1999, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-9. "Purchaser"

Sec. 9. As used in this chapter, "purchaser" means a person or firm contracting with a seller for services or merchandise to be provided or delivered for a named individual.
As added by P.L.200-1991, SEC.1. Amended by P.L.207-1993, SEC.28; P.L.114-1999, SEC.4; P.L.143-2009, SEC.17; P.L.101-2010, SEC.5; P.L.34-2011, SEC.8.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-10. "Seller"

Sec. 10. As used in this chapter, "seller" means a person doing business as a sole proprietor, a firm, a limited liability company, a corporation, an association, or a partnership contracting to provide services or merchandise, or both, to a named individual.
As added by P.L.200-1991, SEC.1. Amended by P.L.8-1993, SEC.468; P.L.114-1999, SEC.5.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-11. "Trustee" or "Escrow Agent, Acting as a Fiduciary"

Sec. 11. (a) As used in this chapter, "trustee" or "escrow agent, acting as a fiduciary", means a:
(1) bank;
(2) trust company;
(3) savings association; or
(4) credit union;
that maintains an office in Indiana and is qualified under state or federal law to serve as a trustee or escrow agent, acting as a fiduciary.
(b) For a contract using a life insurance policy as consideration, the term also includes a life insurance company or other entity that establishes a trust for the purposes of holding and administering life insurance policies issued by an insurance company to fund contracts under this chapter. Notwithstanding any other law to the contrary, a life insurance company or other entity acting as a trustee shall comply with this chapter.
(c) For a contract using a previously issued life insurance policy as consideration, the seller is considered to be a qualified trustee if ownership is irrevocably assigned to the seller in conjunction with an assignment of death benefits.
As added by P.L.200-1991, SEC.1. Amended by P.L.241-1995, SEC.5; P.L.79-1998, SEC.94; P.L.114-1999, SEC.6.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-11.5. "Cash Advance Item"

Sec. 11.5. (a) As used in this chapter, "cash advance item" means an item of property, or services, or merchandise that is not sold directly by a seller and is described to a purchaser as one (1) of the following:
(1) A cash advance.
(2) An accommodation.
(3) A cash disbursement.
(4) An estimated future charge by a third party.
(5) A similar term.
(b) The term also refers to a service or property obtained from a third party for which the seller collects an estimated payment to be held in trust or escrow until services or merchandise subject to a contract are delivered because the cost of the service or property can only be estimated at the time the contract is made.
(c) Cash advance items include the following:
(1) Cemetery or crematory services.
(2) Pallbearers.
(3) Public transportation.
(4) Clergy honoraria.
(5) Flowers.
(6) Musicians or singers.
(7) Nurses.
(8) Obituary notices.
(9) Gratuities.
(10) Death Certificates.
(11) Sales tax.
(12) Foreign language interpreters.
(13) Religious commemorative services.
(14) Fees charged for the following:
(A) Interment.
(B) Opening and closing of a grave or crypt.
(d) If property or services are not cash advance items under this section, they are services or merchandise under section 8 of this chapter.
As added by P.L.114-1999, SEC.7.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-12. Contracts

Sec. 12. (a) This section applies to contracts for prepaid services or merchandise, or both, entered into under this chapter before January 1, 1996.
(b) A purchaser may enter into more than one (1) contract under this chapter for prepaid services or merchandise, or both. Each contract may be funded with cash, either in a lump sum or installment payments, or an insurance policy, or both. The purchaser may revoke the contract if the purchaser sends the seller written notice of the revocation within thirty (30) days after the contract is signed by the purchaser and seller. If a purchaser revokes a contract the seller shall refund to the purchaser, without interest, all property used to fund the contract. If the seller receives payment of at least five hundred dollars ($500) in cash that must ultimately be placed in trust or escrow under this section, the seller shall, not more than five (5) days after receiving the payment, deposit the payment in escrow pending irrevocable deposit to trust or escrow authorized by IC 30-2-10. Thirty (30) days after the contract is signed all property paid or delivered to the seller to fund each contract shall be irrevocably deposited by the seller to trust or escrow authorized by either IC 30-2-10 or IC 23-14-49-1. All property received for services or merchandise sold by a seller licensed under IC 25-15 shall be irrevocably deposited to trust in compliance with IC 30-2-10. All sellers shall guarantee the provision of all services and merchandise sold under a contract authorized by this chapter.
(c) If a contract under this chapter is funded with an insurance policy, the ownership of the insurance policy must be irrevocably assigned to a trustee. The seller may not borrow against, pledge, withdraw, or impair the cash value of the policy.
(d) A finance charge may be assessed on a contract sold on an installment basis, and the seller shall disclose to the purchaser all the applicable requirements under federal and state law.
(e) A seller or successor seller who has accepted cash or an insurance policy, or both, as full payment of a contract under subsection (b), is responsible for providing all contracted prepaid services and merchandise if the insurance company or trust company used to fund the contract is insolvent.
(f) A purchaser who purchases a contract with cash in a lump sum or through an insurance contract shall make the payment for the contract payable only to the seller. A purchaser who purchases a contract with cash in installments may make payments for the contract to the seller.
As added by P.L.200-1991, SEC.1. Amended by P.L.1-1992, SEC.159; P.L.207-1993, SEC.29; P.L.120-1994, SEC.3; P.L.241-1995, SEC.6; P.L.52-1997, SEC.52.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-14. Conversion of Trust or Escrow Agreement; Change in Method of Funding; New or Successor Trustee or Escrow Agent

Sec. 14. (a) A trust or an escrow agreement created under:
(1) IC 23-14-49-1;
(2) IC 30-2-9; or
(3) IC 30-2-10;
may not be converted to a trust or an escrow agreement required by section 12 or 12.5 of this chapter.
(b) A contract that has been funded with cash may not subsequently be changed to be funded with an insurance policy.
(c) A contract that has been funded with an insurance policy may not subsequently be changed to be funded with cash.
(d) Unless a transaction occurs under section 15(a)(4) of this chapter or the provisions of the contract permit otherwise, a new or successor trustee or escrow agent may not qualify and serve as trustee or escrow agent without the written consent of the purchaser and the seller designated to provide services or merchandise subject to a contract under this chapter.
As added by P.L.200-1991, SEC.1. Amended by P.L.241-1995, SEC.9; P.L.52-1997, SEC.53; P.L.114-1999, SEC.11.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-15. Loss of Certificate of Authority or License by Seller; Notice to Purchaser; Selection of New Seller; Transfer of Unperformed Contracts and Funds to Successor Owner

Sec. 15. (a) If a seller:
(1) ceases to have a certificate of authority or loses a professional license required to provide services under this chapter;
(2) ceases to exist or operate;
(3) is incapable of performing the seller's obligations under an unperformed contract for any reason; or
(4) sells or leases the seller's business, facilities, or assets;
the seller shall give notice to the board and to each purchaser for whom funds are held in a trust or escrow under this chapter. The notice shall specify the reason for the issuance of the notice.
(b) The seller's written notice under subsection (a) must be:
(1) addressed to the purchaser's last known address; and
(2) mailed within fifteen (15) days after the seller becomes incapable of performing the obligations under the contract.
(c) A purchaser who receives a notice under subsection (a) has thirty (30) days after the date the notice was mailed by the seller to select and designate a new seller under section 13 of this chapter to become the beneficiary of the trust or the designated recipient of the escrow funds. The first seller shall send written notice of the designation of a new seller to the newly designated seller or to the trustee.
(d) A seller shall transfer all unperformed contracts and funds held in trust or escrow under this chapter to the seller who is the successor owner or lessee of the transferring seller. The successor seller shall perform all contracts transferred under this subsection.
(e) If:
(1) the seller fails to comply with subsection (a)(1), (a)(2), or (a)(3); or
(2) a purchaser fails to designate a new seller;
the designation shall be made by the board.
As added by P.L.200-1991, SEC.1. Amended by P.L.241-1995, SEC.10; P.L.114-1999, SEC.12; P.L.177-2009, SEC.60.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-16. Sale, Consolidation, Merger, Disposal, or Lease of Assets in Bulk; Designation of Successor

Sec. 16. (a) Except for sales of stock or merchandise in the ordinary course of the seller's business, a seller who has deposited money or an insurance policy under section 12 or 12.5 of this chapter may not:
(1) sell, consolidate, merge, or dispose of assets; or
(2) lease the seller's business, facilities, or assets;
without providing, as an integral part of the transaction or occurrence, for the designation of a successor seller of the money or insurance policy placed in trust. For purposes of this section, a change in control determines the seller's obligation.
(b) If a seller acting as a trustee of an insurance policy fails to designate a qualified successor seller, the board shall make the designation. However, the designated successor must be willing to accept the designation.
(c) This section does not restrict a purchaser's right to designate a new seller in accordance with section 13 of this chapter.
As added by P.L.200-1991, SEC.1. Amended by P.L.241-1995, SEC.11; P.L.114-1999, SEC.13.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-17. Successors to Seller; Obligations

Sec. 17. A seller may not sell the seller's stock, business, or assets, transfer assets, merge or consolidate, in whole or in part, or sell, transfer, or consolidate contracts unless:
(1) the purchaser of the stock, business, or assets or the successor in interest is liable for shortages in a trust under this chapter existing before or after the sale, however, the purchaser or successor in interest has no obligation to cure a shortage in a contract between the seller and the purchaser that is not performed by the purchaser or successor in interest; or
(2) the purchaser of the stock, business, or assets or the successor in interest will perform all obligations imposed under this chapter, all obligations imposed under contracts between the seller and the purchaser, and any other related obligations.
As added by P.L.200-1991, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-18. Compensation and Expenses of Trustee; Withdrawal of Tax Liability

Sec. 18. A trustee or an escrow agent may be reimbursed for necessary expenses and be paid reasonable compensation for those services from the trust or escrow. A trustee or an escrow agent shall also be permitted to withdraw from trust or escrow any federal or state tax liability assessed against the purchasers' interest in the trust or escrow.
As added by P.L.200-1991, SEC.1. Amended by P.L.114-1999, SEC.14.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-19. Common Trust Fund

Sec. 19. (a) A trustee may place trust money in a common or commingled trust fund under a single trust instrument.
(b) A trustee shall maintain a separate accounting record for each seller who deposits funds in a trust.
(c) Except for trusts established under IC 30-2-10, records maintained under this section do not need to be segregated on a purchaser by purchaser basis.
As added by P.L.200-1991, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-20. Funeral Service Contracts; Ratification by Funeral Director

Sec. 20. If an agent and a purchaser execute a contract covering funeral services (as defined in IC 25-15), the contract is valid only if the contract is ratified by a funeral director licensed under IC 25-15 who is directly affiliated with the seller as an agent when the contract is made. A contract ratified by an unaffiliated licensed funeral director is void.
As added by P.L.200-1991, SEC.1. Amended by P.L.114-1999, SEC.15.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-21. Agents of Seller; Seller Liability; Written Statement

Sec. 21. A seller who solicits for or enters into a contract under this chapter must satisfy the following conditions:
(1) An agent who acts on behalf of a seller must be directly affiliated with the seller for whom the agent is acting.
(2) The contract must state that the seller is responsible and liable for the veracity and competency of the agent.
(3) An agent must provide to the purchaser a written statement containing the following:
(A) The capacity of the person to act and whether the person is acting for the seller as an agent.
(B) Notice that the seller is the only person or entity authorized to provide the services or merchandise called for by the contract.
(C) The name, address, and telephone number of the seller.
As added by P.L.200-1991, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-22. Seller Bond or Permit

Sec. 22. A bond or permit is not required of a seller except as specifically required in this chapter.
As added by P.L.200-1991, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-23. Contracts; Invalid Provisions; Unenforceable Contracts

Sec. 23. (a) A contract is invalid if the contract allows the purchaser the right to:
(1) convert, substitute, or exchange the purchase of burial rights for the purchase of services or merchandise;
(2) free services or merchandise in exchange for the purchase of other services or merchandise; or
(3) receive cash or gifts, other than burial rights and services and merchandise, with a value of more than fifty dollars ($50) as an inducement to purchase a contract.
(b) A contract is unenforceable if:
(1) the contract obligates the seller to provide prepaid services or merchandise for a named individual in conjunction with the death, burial, or final disposition of the individual;
(2) the purchaser under the contract is the attorney in fact, appointed under IC 30-5, of the purchaser.
(3) the death of the named individual appears to have been the result of:
(A) murder (IC 35-42-1-1);
(B) voluntary manslaughter (IC 35-42-1-3); or
(C) another criminal act, if the death does not result from the operation of a vehicle; and
(4) the coroner, in consultation with the law enforcement agency investigating the death of the decedent, determines that there is a reasonable suspicion that the purchaser referred to in subdivision (2) committed the offense.
The coroner, in consultation with the law enforcement agency investigating the death of the decedent, shall inform the seller of the determination of the purchaser described in subdivision (4).
As added by P.L.200-1991, SEC.1. Amended by P.L.241-1995, SEC.12; P.L.102-2007, SEC.4; P.L.34-2011, SEC.9.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-24. Seller or Agent; Prohibited Acts

Sec. 24. A seller or an agent may not knowingly do the following:
(1) Except on request of a prospective purchaser, contact prospective purchasers in hospitals, health facilities, or similar institutions for the purpose of soliciting the sale of prepaid services or merchandise.
(2) Solicit relatives of a person whose death is apparently pending for the purpose of selling prepaid services or merchandise.
(3) Except where the arrangement is the subject of a contract allowed under this chapter, solicit, accept, or pay any consideration for recommending or causing a deceased person to be provided services or merchandise by specific sellers.
(4) Advertise prepaid services or merchandise in a false or misleading manner.
As added by P.L.200-1991, SEC.1. Amended by P.L.1-1992, SEC.160.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-25. Solicitation of Sales; Conditions

Sec. 25. Solicitation of a sale of prepaid services or merchandise is permitted by a seller or an agent of a seller if the following exist:
(1) The conditions set forth in sections 21 and 24 of this chapter are observed.
(2) The following are clearly identified:
(A) The seller or agent.
(B) The seller with whom the agent is affiliated.
(3) The purpose of the call or visit is explained.
(4) An appointment is made with the prospective purchaser.
As added by P.L.200-1991, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-26. Confidentiality of Contracts

Sec. 26. During the lifetime of the purchaser the contract executed under this chapter is confidential and neither the seller nor the trustee may disclose to a third party the identity of the purchaser or the terms of the contract. This section does not prohibit normal commercial activities by a seller with regard to an account receivable from a purchaser or compliance with a court order.
As added by P.L.200-1991, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-27. Payments to Board

Sec. 27. Each seller of a prepaid contract under this chapter shall pay to the board on a form provided by it not later than March 1 of each year from money not deposited in a trust or escrow the following amounts for each contract written during the preceding calendar year:
(1) Two dollars and fifty cents ($2.50) for each contract having a value of less than five hundred dollars ($500).
(2) Five dollars ($5) for each contract having a value of at least five hundred dollars ($500) and less than one thousand five hundred dollars ($1,500).
(3) Ten dollars ($10) for each contract having a value of one thousand five hundred dollars ($1,500) or more.
However, no fee is due and payable on contracts funded with a previously issued life insurance policy. The payment may be charged to the purchaser or, at the option of the seller, paid by the seller. A trustee shall quarterly report to the board all payments received by the trustee from all sellers during the preceding quarter. The report must identify the name and address of each seller from whom the trustee received payments and the total amount of the payments. The payments are administered under section 28 of this chapter.
As added by P.L.200-1991, SEC.1. Amended by P.L.207-1993, SEC.31; P.L.195-1997, SEC.2; P.L.114-1999, SEC.16.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 2. General Provisions › Chapter 13. Payment of Funeral, Burial Services, or Merchandise in Advance of Need › 30-2-13-28. Preneed Consumer Protection Fund; Establishment; Funding

Sec. 28. (a) The preneed consumer protection fund is established. The board shall deposit receipts under section 27 of this chapter in the preneed consumer protection fund.
(b) The expenses of administering the fund shall be paid from money in the fund.
(c) The money in the fund and the interest accruing to the fund remain in the fund and do not revert to the state general fund.
As added by P.L.200-1991, SEC.1.