2018 Indiana Code
TITLE 30. Trusts and Fiduciaries
ARTICLE 2. GENERAL PROVISIONS
CHAPTER 9. Prepaid Funeral Plans and Funeral Trust Funds Established Before 1982
30-2-9-5. Compensation and expenses of trustee
Sec. 5. This chapter shall not be construed to prohibit a trustee under section 1(a) of this chapter from being reimbursed and receiving from the fund its reasonable expenses in the custody and administration of the funds and the usual and reasonable compensation for its services as the trustee. However, the expenses and compensation shall be fixed by the state board of funeral service in a reasonable amount based upon the principal fund and the earnings of the fund deposited or invested under each of the agreements or series of agreements. A financial institution trustee under section 1.5 of this chapter may be reimbursed for its reasonable expenses from the fund, except the amount shall be fixed by the Indiana department of financial institutions.
Formerly: Acts 1963, c.303, s.5. As amended by Acts 1978, P.L.133, SEC.6; P.L.246-1985, SEC.22.
