Indiana § 23-20-1-28 - Securities restitution fund; threshold; suspension of payment of claims; proration of claims after suspension period
Full text of Indiana Indiana Code § 23-20-1-28 — Securities restitution fund; threshold; suspension of payment of claims; proration of claims after suspension period, with citation guidance and answers to common questions.
§ 23-20-1-28. Securities restitution fund; threshold; suspension of payment of claims; proration of claims after suspension period
Sec. 28. (a) If the fund would be reduced below two hundred fifty thousand dollars ($250,000) by payment in full of all awards that become final in a month, the division shall suspend payment of the claims that become final during the month and the following two (2) months.
(b) At the end of the suspension period, the division shall pay the suspended claims. If the fund would be exhausted by payment in full of the suspended claims, the amount paid to each claimant shall be prorated.
(c) To ensure the financial viability of the fund, the commissioner may:
(1) divide into installments;
(2) delay; or
(3) divide into installments and delay;
any payments owed to claimants under this chapter.
As added by P.L.114-2010, SEC.12. Amended by P.L.156-2023, SEC.17.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 23-20-1-28
What does Indiana Code § 23-20-1-28 cover?
Section 23-20-1-28 ("Securities restitution fund; threshold; suspension of payment of claims; proration of claims after suspension period") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 23-20-1-28?
A common citation format is "Indiana Code § 23-20-1-28" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 23-20-1-28 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.