Indiana Code 30-1-2-2. Securities not listed; terms
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Terms Used In Indiana Code 30-1-2-2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Decedent: A deceased person.
- Executor: A male person named in a will to carry out the decedent
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 2. Whenever any decedent‘s estate or any property subject to the control of any executor, administrator, or guardian, shall consist, in whole or in part, of securities of any corporation, public or private, which the fiduciary is required or authorized to sell and which are not listed or admitted to trade on one (1) of the exchanges enumerated in section 1 of this chapter, such securities may be sold by such fiduciary in the same manner and upon the same terms as other personal property of a decedent’s estate or guardianship may be sold.
Formerly: Acts 1947, c.351, s.2. As amended by Acts 1982, P.L.171, SEC.86.