Section 32-18-1-5 - Trustee; removal upon petition of assignor or creditor(a) If the trustee fails to comply with the provisions of sections 1 through 4 of this chapter, the judge of the circuit court, superior court, or probate court, or the clerk of the circuit court may, at the instance of the assignor or a creditor, by petition: (1) remove the trustee; and(2) appoint another suitable person as trustee.(b) A replacement trustee shall:(1) comply with the requirements specified in this chapter;(2) immediately take possession and control of the property assigned; and(3) enter upon the execution of the trust, as provided in this chapter.Pre-2002 Recodification Citation: 32-12-1-5.
Amended by P.L. 84-2016, SEC. 137, eff. 7/1/2016.As added by P.L. 2-2002, SEC.3.