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Indiana Code Title 28. Financial Institutions § 28-14-7.5-6

Current as of January 02, 2024 | Updated by Findlaw Staff

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.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-14-7.5-6 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-14-7-5-6/

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