§ 28-1-20-3 — Insolvency; void transfers

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.
Formerly: Acts 1933, c.40, s.245.