IC 29-1-10-11 Joint representatives; powers; voting shares of stock
275 words·~1 min read·
/in/title-29-probate/article-1-probate-code/chapter-10-personal-representatives/29-1-10-11·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 11.
(a)Where powers possessed by two
(2)or more personal representatives are to be exercised by them jointly, the will of the majority shall control the manner in which such power shall be exercised unless the will otherwise provides.
Where the personal representatives, or a majority of them, cannot agree, or where they are equally divided upon the manner in which such power shall be exercised, other than in the voting of shares of stock, the court shall, upon petition filed by any of such personal representatives or by any party in interest, direct the manner in which such power shall be exercised, and such power shall be exercised only in accordance with such direction.
(b)Shares of stock held by personal representatives may be voted by the personal representatives in such manner as the instrument or order appointing such personal representatives may direct. In the absence of such direction or the inability of the personal representatives to act in accordance therewith, the following provisions shall apply:
(1)Where shares of stock are held jointly by two
(2)or more personal representatives, such shares shall be voted in accordance with the will of the majority.
(2)Where the personal representatives or a majority of them cannot agree, or where they are equally divided upon the question of voting such shares of stock, the court shall, upon petition filed by any of such personal representatives or by any party in interest, direct the voting of such shares as it may deem for the best interest of the beneficiaries, and such shares shall be voted in accordance with such direction.
Formerly: Acts 1953, c.112, s.1011.