§ 29-1-14-19 — Payment of claims; bond or security of creditor; report of insolvency

(a) The personal representative at any time
shall pay the claims as the court shall order if the claims are filed
within three (3) months after the date of the first published notice to
creditors or the period allowed under IC 29-1-7-7, if applicable, and the
court may require bond or security to be given by the creditor to refund
such part of such payment as may be necessary to make payment in
accordance with this title.
(b) Prior to the expiration of three (3) months after the date of the
first published notice to creditors or the period allowed under IC 29-1-7-7, the personal representative, if the estate clearly is solvent,
may pay any claims that the personal representative believes are just
and correct, whether or not the claims have been filed. The personal
representative may require bond or security to be given by the creditor
to refund any part of the payment as the court may subsequently order.
The personal representative, following all such payments, shall include
them in the personal representative's next account and they shall be
considered proper payments under this title if they are approved by the
court as a part of the account.
(c) Upon the expiration of three (3) months after the date of the first
published notice to creditors or the period allowed under IC 29-1-7-7
and the final adjudication of all claims filed against the estate, the
personal representative shall proceed to pay the claims that have been
allowed against the estate in accordance with this title that the personal
representative has not paid.
(d) If it appears at any time that the estate is or may be insolvent,
that there are insufficient funds on hand, or that there is other good or
sufficient cause, the personal representative may report that fact to the
court and apply for any necessary order.
Formerly: Acts 1953, c.112, s.1419; Acts 1975, P.L.288,
SEC.27. As amended by P.L.154-1990, SEC.11; P.L.118-1997,
SEC.23; P.L.252-2001, SEC.22.