Sec. 19. (a) The judge of the circuit court, superior court, or probate court may, upon the petition of a creditor or the assignor, remove a trustee under this chapter for good cause shown and appoint a successor.
(b) If a vacancy occurs by death, resignation, or removal of a trustee from Indiana, the judge may fill the vacancy and shall order a trustee who is removed to surrender all property in the trustee's hands belonging to the trust to the successor. The court may require a trustee removed under this section to pay to the clerk of the court all money in the trustee's hands, and on or before the next term, the trustee shall make and file a full and final report showing the condition of the trust and the trustee's management of the trust while under the trustee's control. If the court is satisfied with the report and the trustee has fully complied with this chapter and paid all money in the trustee's hands to the clerk of the court, the court may discharge the trustee.
[Pre-2002 Recodification Citation: 32-12-1-19.]
As added by P.L.2-2002, SEC.3. Amended by P.L.84-2016, SEC.140.
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