Indiana Code 22-4-32-16. Insolvency proceedings; delinquent contributions; priorities
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Terms Used In Indiana Code 22-4-32-16
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Remuneration: whenever used in this article , unless the context clearly denotes otherwise, means all compensation for personal services, including but not limited to commissions, bonuses, dismissal pay, vacation pay, sick pay (subject to the provisions of section 2(c)(1) of this chapter) payments in lieu of compensation for services, and cash value of all compensation paid in any medium other than cash. See Indiana Code 22-4-4-1
Sec. 16. In the event of any distribution of any employer’s assets pursuant to an order of any court under the laws of this state including but not necessarily limited to any receivership, assignment for benefit of creditors, adjudicated insolvency, composition or similar proceeding, contributions then or thereafter due shall be paid in full prior to all other claims except claims for remuneration.
Formerly: Acts 1947, c.208, s.3318. As amended by P.L.290-2001, SEC.26; P.L.175-2009, SEC.39.