Indiana Code 34-17-3-6. Execution or attachment against directors or officers of corporations
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Sec. 6. (a) If judgment is rendered against a corporation or against any persons claiming to be a corporation, the court may cause the costs to be collected:
(2) by attachment against the directors or other officers of the corporation.
(1) by execution against the persons claiming to be a corporation; or
Terms Used In Indiana Code 34-17-3-6
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- 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
- 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.
- 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
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(b) In addition, the court shall:
(1) restrain the corporation;
(2) appoint a receiver of the corporation’s property and effects;
(3) take an account; and
(4) make a distribution of property among the creditors.
(c) The prosecuting attorney shall immediately institute proceedings for these purposes.
[Pre-1998 Recodification Citation: 34-1-59-12.]
As added by P.L.1-1998, SEC.12.