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30-2-14-38. Disbursements from income

IN Code § 30-2-14-38 (2019) (N/A)
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Sec. 38. A trustee shall make the following disbursements from income to the extent that they are not disbursements to which section 18(a)(2)(B) or 18(a)(2)(C) of this chapter applies:

(1) one-half (1/2) of the regular compensation of the trustee and of any person providing investment advisory or custodial services to the trustee;

(2) one-half (1/2) of all expenses for accountings, judicial proceedings, or other matters that involve both the income and remainder interests;

(3) all of the other ordinary expenses incurred in connection with the administration, management, or preservation of trust property and the distribution of income, including:

(A) interest;

(B) ordinary repairs;

(C) regularly recurring taxes assessed against principal; and

(D) expenses of a proceeding or other matter that concerns primarily the income interest; and

(4) recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.

As added by P.L.84-2002, SEC.2. Amended by P.L.51-2014, SEC.17.

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