Indiana Code 33-44-5-8. Good faith judgment concerning deposit of funds; attorney liability
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Sec. 8. An attorney:
(2) is not liable in damages; and
(1) does not breach a fiduciary duty;
Terms Used In Indiana Code 33-44-5-8
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Fiduciary: A trustee, executor, or administrator.
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(3) is not subject to disciplinary action;
because of a deposit of money in an interest bearing attorney trust account if the attorney acted in accordance with a good faith judgment that the money constituted qualified funds.
[Pre-2004 Recodification Citation: 33-20-5-8.]
As added by P.L.98-2004, SEC.23.