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Terms Used In Indiana Code 2-3-7.5-1

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Executor: A male person named in a will to carry out the decedent
  • 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.
  • Trustee: A person or institution holding and administering property in trust.
   Sec. 1. Any member of the General Assembly of this state who is otherwise qualified shall be eligible to serve specifically, but not by way of limitation, as a guardian, executor, administrator, commissioner by appointment of the court for a specific purpose, court appraiser other than pursuant to eminent domain proceedings in which the State of Indiana is a party, receiver, or receiver or trustee in bankruptcy. Such positions shall not be considered as lucrative public offices within the meaning of the constitutional prohibition and said legislator may serve in those positions without losing his seat in the Indiana General Assembly.

Formerly: Acts 1972, P.L.16, SEC.1.