Terms Used In Indiana Code 2-3.5-5-9

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 9. All benefits and assets in the defined contribution fund are exempt from levy, sale, garnishment, attachment, or other legal process. However, a participant’s benefits may be transferred to reimburse the state for loss resulting from the participant’s criminal taking of state property if the board receives adequate proof of the loss. The loss must be proven by conviction of a felony or misdemeanor.

As added by P.L.6-1989, SEC.1.