§ 27-13-12-1 “Net worth” defined; computation
§ 27-13-12-2 Initial minimum net worth
§ 27-13-12-3 Maintenance of minimum net worth
§ 27-13-12-4 Net worth schedule
§ 27-13-12-5 Consideration of debts
§ 27-13-12-6 Adoption of rules
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Terms Used In Indiana Code > Title 27 > Article 13 > Chapter 12 - Protection Against Insolvency; Net Worth Requirements

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • net worth: means the excess of total assets over total liabilities, excluding liabilities that have been subordinated in a manner acceptable to the commissioner. See Indiana Code 27-13-12-1
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.