Indiana § 30-2-13-16 Sale, consolidation, merger, disposal, or lease of assets in bulk;
designation of successor

Indiana Statutes

§ 30-2-13-16 — Sale, consolidation, merger, disposal, or lease of assets in bulk; designation of successor

Indiana § 30-2-13-16

Art. 2GENERAL PROVISIONS

Ch. 13Payment of Funeral, Burial Services, or Merchandise in

This text of Indiana § 30-2-13-16 (Sale, consolidation, merger, disposal, or lease of assets in bulk; designation of successor) 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 § 30-2-13-16 (2026).

Text

(a)Except for sales of stock or merchandise in the ordinary course of the seller's business, a seller who has deposited money or an insurance policy under section 12 or 12.5 of this chapter may not:

(1)sell, consolidate, merge, or dispose of assets; or

(2)lease the seller's business, facilities, or assets; without providing, as an integral part of the transaction or occurrence, for the designation of a successor seller of the money or insurance policy placed in trust. For purposes of this section, a change in control determines the seller's obligation.

(b)If a seller acting as a trustee of an insurance policy fails to designate a qualified successor seller, the board shall make the designation. However, the designated successor must be willing to accept the designation.

(c)This sectio

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(a) Except for sales of stock or merchandise
in the ordinary course of the seller's business, a seller who has
deposited money or an insurance policy under section 12 or 12.5 of this
chapter may not:
(1) sell, consolidate, merge, or dispose of assets; or
(2) lease the seller's business, facilities, or assets;
without providing, as an integral part of the transaction or occurrence,
for the designation of a successor seller of the money or insurance
policy placed in trust. For purposes of this section, a change in control
determines the seller's obligation.
(b) If a seller acting as a trustee of an insurance policy fails to
designate a qualified successor seller, the board shall make the
designation. However, the designated successor must be willing to
accept the designation.
(c) This section does not restrict a purchaser's right to designate a
new seller in accordance with section 13 of this chapter.