Indiana Statutes
§ 25-6.1-6-6 — Trust accounts
Indiana § 25-6.1-6-6
JurisdictionIndiana
Title 25PROFESSIONS AND OCCUPATIONS
Art. 6.1AUCTIONEERS AND AUCTIONS
Ch. 6Licensee Obligations
This text of Indiana § 25-6.1-6-6 (Trust accounts) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ind. Code § 25-6.1-6-6 (2026).
Text
(a)Each licensee:
(1)shall keep in one (1) or more trust accounts (interest or
noninterest bearing) all funds belonging to others that come into
the possession of the licensee and are held by the licensee for
more than twenty-four (24) hours after the funds become
available for use by the licensee; and
(2)shall clearly identify any account containing those funds as a
trust account.
The trust accounts shall contain all auction proceeds not yet disbursed
and all other funds belonging to others.
(b)The licensee shall not use any trust account for the deposit of
any personal funds or other business funds and shall keep a detailed
record of the funds and any interest accrued in each trust account that
identifies the amount of funds held for each beneficiary. Any interest
earned shall be hel
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Legislative History
As added by P.L.256-1987, SEC.3.
Nearby Sections
15
§ 25-0.5-1-1
Applicability§ 25-0.5-1-10
Physicians§ 25-0.5-1-11
Nurses§ 25-0.5-1-12
Certified direct entry midwives§ 25-0.5-1-13
Occupational therapists§ 25-0.5-1-15
Optometrists§ 25-0.5-1-16
Pharmacists§ 25-0.5-1-17
Physical therapists§ 25-0.5-1-18
Physician assistants§ 25-0.5-1-19
Podiatrists§ 25-0.5-1-2
Acupuncturists§ 25-0.5-1-2.3
Application; anesthesiologist assistants§ 25-0.5-1-2.5
Athletic trainers§ 25-0.5-1-2.7
Behavior analystsCite This Page — Counsel Stack
Bluebook (online)
Indiana § 25-6.1-6-6, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/25-6.1-6-6.