§ 27-9-3-22 — Jurisdiction of Marion County circuit court under this chapter

The Marion County circuit court has summary
jurisdiction of any proceeding by the liquidator to hear and determine
the rights of any parties under this chapter. Reasonable notice of any
hearing in the proceeding shall be given to all parties in interest,
including the obligee of a releasing bond or other like obligation.
Where an order is entered for the recovery of indemnifying property in
kind or for the avoidance of an indemnifying lien, the court, upon
application of any party in interest, shall in the same proceeding
ascertain the value of the property or lien, and if the value is less than
the amount for which the property is indemnity or than the amount of
the lien, the transferee or lienholder may elect to retain the property or
lien upon payment of its value, as ascertained by the court, to the
liquidator, within reasonable times as the court shall fix.
As added by Acts 1979, P.L.255, SEC.1.