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Bill Title: Management of funeral trust accounts. Provides that the bank, trust company, savings association, or credit union that receives the payments made by the settlor of a funeral trust may enter into a contract under which the settlor's account will be managed by a third party. Requires that the third party be an investment adviser registered with the United States Securities and Exchange Commission or with the Indiana securities commissioner. Requires an investment adviser managing a funeral trust settlor's account to comply with the Indiana Uniform Prudent Investor Act.

Spectrum: Moderate Partisan Bill (Republican 4-1)

Status: (Passed) 2015-04-23 - Public Law 53 [SB0447 Detail]

Download: Indiana-2015-SB0447-Enrolled.pdf

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