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

Indiana Statutes

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

Indiana § 28-1-20-3

Art. 1DEPARTMENT OF FINANCIAL INSTITUTIONS

Ch. 20General Provisions Concerning Banks and Trust

This text of Indiana § 28-1-20-3 (Insolvency; void transfers) 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 § 28-1-20-3 (2026).

Text

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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.