Sec. 1. (a) This chapter applies to a transfer or declaration creating a custodial trust that refers to this chapter if, at the time of the transfer or declaration:
(1) the transferor, beneficiary, or custodial trustee:
(A) is a resident of; or
(B) has its principal place of business in Indiana; or
(2) custodial trust property is located in Indiana.
(b) The custodial trust remains subject to this chapter even if the transferor, beneficiary, or custodial trustee:
(1) changes its residence or principal place of business; or
(2) removes custodial trust property;
to a location outside Indiana.
As added by P.L.3-2003, SEC.1.