Sec. 6. (a) While a corporate fiduciary is in conservatorship under this chapter, the department may require the conservator to set aside and make available for payment to any persons described in section 3(a)(2) of this chapter, on a pro rata basis, any amounts that, in the opinion of the department, may be safely and prudently used for such payments.
(b) Any assets received or acquired after a corporate fiduciary is placed in conservatorship under this chapter shall be:
(1) kept in cash;
(2) invested in direct obligations of the United States; or
(3) deposited in depository institutions designated by the department.
As added by P.L.10-2006, SEC.78 and P.L.57-2006, SEC.78.
Structure Indiana Code
Title 28. Financial Institutions
Article 14. Corporate Fiduciaries
Chapter 7.5. Conservatorship of Corporate Fiduciaries
28-14-7.5-1. Application of Chapter
28-14-7.5-2. Applications of Definitions
28-14-7.5-3. Appointment of Conservator; Bond or Security
28-14-7.5-4. Reimbursement of Department; Administrative Expenses; Payment From Assets
28-14-7.5-7. Loans in Aid of Operation or Reorganization; Security
28-14-7.5-8. Termination of Conservatorship; Appointment of Receiver; Liquidation