Indiana § 28-1-12-6 - Liquidation preferences
Full text of Indiana Indiana Code § 28-1-12-6 — Liquidation preferences, with citation guidance and answers to common questions.
§ 28-1-12-6. Liquidation preferences
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.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-1-12-6
What does Indiana Code § 28-1-12-6 cover?
Section 28-1-12-6 ("Liquidation preferences") 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 § 28-1-12-6?
A common citation format is "Indiana Code § 28-1-12-6" (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 § 28-1-12-6 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.