Sec. 14. (Assignment of Beneficiary's Interest) (a) If the terms of the trust give the trustee the power to sell the trust property upon direction by the beneficiary or other person or to sell it after a stipulated period of time in the absence of a direction as provided in 30-4-2-13, the beneficiary may treat his interest as personal property and may assign it to any person notwithstanding the provisions of 30-4-2-7(c). (b) The trustee will be bound by an assignment made under subsection (a) of this section only after he receives written notice of it. Formerly: Acts 1971, P.L.416, SEC.3.
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