Indiana Code 27-9-3-24. Extension of unsecured credit by preferred creditor
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Terms Used In Indiana Code 27-9-3-24
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 24. If a creditor has been preferred, and afterward in good faith gives the insurer further credit without security of any kind for property that becomes a part of the insurer’s estate, the amount of the new credit remaining unpaid at the time of the petition may be set off against the preference that would otherwise be recoverable from him.
As added by Acts 1979, P.L.255, SEC.1.