Sec. 6. Upon the liquidation of any bank or trust company or corporate fiduciary while it is acting as guardian, trustee, receiver, administrator, executor, commissioner, or assignee for the benefit of creditors the person or persons beneficially entitled to receive property or proceeds thereof held by it, or any successor fiduciary that may be appointed, shall have preference and priority in all assets of such bank or trust company or corporate fiduciary over its general creditors, for all uninvested money held by such bank or trust company or corporate fiduciary in the fiduciary capacities above named, to the extent that such money is commingled with its general assets or is not duly accounted for.
Formerly: Acts 1933, c.40, s.192; Acts 1937, c.33, s.25. As amended by P.L.262-1995, SEC.32.
Structure Indiana Code
Title 28. Financial Institutions
Article 1. Department of Financial Institutions
Chapter 12. Regulation of Bank and Trust Company Fiduciaries
28-1-12-1. Authority to Serve as Fiduciary
28-1-12-2. Control by Court; Accounts, Statements, and Reports
28-1-12-4. Profit or Commission on Sales; Necessity of Specific Authorization; Surcharge