CHAPTER 6. SECURITIES HELD BY NOMINEES

IC 28-2-6
    Chapter 6. Securities Held by Nominees

IC 28-2-6-1
Authority to register securities in name of nominee; liability
    Sec. 1. Any bank, trust company, or corporate fiduciaryincorporated under the laws of this state, and any national bankingassociation incorporated under the laws of the United States andhaving its principal banking office in this state, may, when acting inany fiduciary capacity, whether as sole fiduciary or as co-fiduciary,cause any stocks, bonds, or other securities held by it in suchfiduciary capacity to be registered and held in the name or names ofany nominee or nominees of such bank, trust company or nationalbanking association, Provided, however, that: (1) if such bank, trustcompany, corporate fiduciary, or national banking association beacting as a co-fiduciary, it shall secure the consent of its co-fiduciaryor co-fiduciaries, who is or are hereby authorized to give suchconsent, to the registration and holding of such stocks, bonds, orother securities in the name of a nominee or nominees of such bank,trust company, corporate fiduciary, or national bank, and (2) therecords of the fiduciary or fiduciaries shall at all times clearly showthe ownership of such stocks, bonds, or other securities, andinvestments so registered shall at all times be in the possession andunder the control of the fiduciary. Any bank, trust company,corporate fiduciary, or national banking association shall be liable inits individual capacity for any loss to the trust or estate resulting fromany of the acts, or omissions to act, of such nominee or nominees inconnection with the stocks, bonds, or other securities so held to thesame extent as if such stocks, bonds, or other securities had beenheld in the name of such bank, trust company, corporate fiduciary, ornational banking association as fiduciary.
(Formerly: Acts 1947, c.115, s.1.) As amended by P.L.262-1995,SEC.50.

IC 28-2-6-2
Application of chapter
    Sec. 2. The provisions of this chapter shall be applicable to banks,trust companies, corporate fiduciaries, and national bankingassociations acting on or after August 20, 1947, under wills, trusts,agreements, court orders, and other instruments existing or made onor after August 20, 1947.
(Formerly: Acts 1947, c.115, s.2.) As amended by P.L.263-1985,SEC.118; P.L.262-1995, SEC.51.