Indiana Code 13-26-7-4. Dissolution of district; interest in assets; limitations
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Terms Used In Indiana Code 13-26-7-4
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Sec. 4. If the commissioner orders a district dissolved as permitted in IC 13-26-6-4, the interest an entity has in the assets of the district is limited to those assets remaining after the payment of all other liabilities of the district.
[Pre-1996 Recodification Citation: 13-3-2-5(h) part.]
As added by P.L.1-1996, SEC.16.