Indiana § 28-1-9-8 Petition of liquidating agent; statement of debts and liabilities;
recommendations as to claims; suspension of creditor's right of action
on claims

Indiana Statutes

§ 28-1-9-8 — Petition of liquidating agent; statement of debts and liabilities; recommendations as to claims; suspension of creditor's right of action on claims

Indiana·Art. 1 DEPARTMENT OF FINANCIAL INSTITUTIONS·Ch. 9 Voluntary Dissolution of Banks, Trust Companies, and

Within sixty (60) days after such dissolution has
been authorized by the shareholders, the agent shall file with the clerk
of the circuit, superior or probate court of the county in which such
corporation has its principal place of business, a verified petition, in
duplicate, which shall contain a complete statement of all debts and
liabilities of such corporation, whether to creditors or shareholders
setting forth the name and address of each creditor, and/or shareholder
and the nature and amount of each claim, as disclosed by the books of
such corporation, or otherwise coming to the knowledge of such agent,
together with the recommendations of such agent as to the allowance
or disallowance of such claims, but in making such recommendations,
such agent shall not determine or recommend any

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Within sixty (60) days after such dissolution has
been authorized by the shareholders, the agent shall file with the clerk
of the circuit, superior or probate court of the county in which such
corporation has its principal place of business, a verified petition, in
duplicate, which shall contain a complete statement of all debts and
liabilities of such corporation, whether to creditors or shareholders
setting forth the name and address of each creditor, and/or shareholder
and the nature and amount of each claim, as disclosed by the books of
such corporation, or otherwise coming to the knowledge of such agent,
together with the recommendations of such agent as to the allowance
or disallowance of such claims, but in making such recommendations,
such agent shall not determine or recommend any preferences or
priorities as to any claim or claims. The agent shall also file one (1)
copy of such petition in the office of the department and retain one (1)
copy thereof at the principal office of the corporation for inspection by
creditors, shareholders or other persons interested. Upon the filing of
such petition the same shall be docketed as a cause of action upon the
records of the court wherein such petition is filed and thereupon such
court shall be vested with exclusive jurisdiction to hear and determine
all issues and matters pertaining to or connected with the allowance,
disallowance and payment of claims against such corporation. No
creditor or other person shall have any claim or any right to bring an
action in any court upon any claim or to assert any right against such
corporation after such dissolution has been authorized by the
shareholders and before the date fixed for the filing of such petition
with the clerk of such court.
Formerly: Acts 1933, c.40, s.149.

Indiana § 28-1-9-8 (Petition of liquidating agent; statement of debts and liabilities; recommendations as to claims; suspension of creditor's right of action on claims) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.