Indiana § 28-14-7.5-3 Appointment of conservator; bond or security

Indiana Statutes

§ 28-14-7.5-3 — Appointment of conservator; bond or security

Indiana § 28-14-7.5-3

Art. 14CORPORATE FIDUCIARIES

Ch. 7.5Conservatorship of Corporate Fiduciaries

This text of Indiana § 28-14-7.5-3 (Appointment of conservator; bond or security) 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 § 28-14-7.5-3 (2026).

Text

(a)The department may appoint a conservator for a corporate fiduciary if the department determines that:

(1)one (1) or more grounds for the appointment of a receiver under IC 28-1-3.1-2(a) exist with respect to the corporate fiduciary; or

(2)the appointment of a conservator is necessary to conserve the assets of the corporate fiduciary for the benefit of:

(A)creditors of the corporate fiduciary;

(B)the beneficiaries of trusts and other fiduciary accounts administered by the corporate fiduciary; or

(C)other persons for whom the corporate fiduciary acts in a fiduciary capacity.

(b)A conservator appointed under this section shall give any bond or security that the department considers appropriate.

(c)The department may appoint any competent and disinterested person as a conservator un

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(a) The department may appoint a
conservator for a corporate fiduciary if the department determines that:
(1) one (1) or more grounds for the appointment of a receiver
under IC 28-1-3.1-2(a) exist with respect to the corporate
fiduciary; or
(2) the appointment of a conservator is necessary to conserve the
assets of the corporate fiduciary for the benefit of:
(A) creditors of the corporate fiduciary;
(B) the beneficiaries of trusts and other fiduciary accounts
administered by the corporate fiduciary; or
(C) other persons for whom the corporate fiduciary acts in a
fiduciary capacity.
(b) A conservator appointed under this section shall give any bond
or security that the department considers appropriate.
(c) The department may appoint any competent and disinterested
person as a conservator under this section.