Ind. Code § 28-1-20-3
Insolvency; void transfers
Indiana · Indiana Code Title 28 — Financial Institutions · Status: effective
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- Citation
- Ind. Code § 28-1-20-3, Insolvency; void transfers, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1665735
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Full text
Sec. 3. All transfers of notes, bonds, bills of exchange and other evidences of debt owing to any bank or trust company; all transfers of deposits to its credit; all assignments of mortgages, sureties on real estate, or of judgments or decrees in its favor; all deposits of money, bullion or other valuable thing for its use, or for the use of any of its shareholders or creditors; and all payments of money to either shareholders or creditors, made after the commission of an act of insolvency, or in contemplation thereof, with a view to preventing the application of its assets to the proper payment of its just liabilities, or with a view to the preference of one creditor to another, shall be null and void.