Indiana Code 8-1-8.9-14. SNG property interest; bankruptcy setoff
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Sec. 14. The interests of an assignee in:
(2) any revenues or collections arising from the SNG property interest transferred;
(1) an SNG property interest transferred to the assignee under section 13 of this chapter; and
Terms Used In Indiana Code 8-1-8.9-14
- assignee: means any individual, corporation, or other legal entity to which an SNG property interest is transferred. See Indiana Code 8-1-8.9-1
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- energy utility: has the meaning set forth in Indiana Code 8-1-8.9-3
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- SNG: has the meaning set forth in Indiana Code 8-1-8.9-8
- SNG property interest: means the right, title, and interest that:
Indiana Code 8-1-8.9-9
are not subject to setoff by the energy utility that transferred the SNG property interest, or by any other person, in connection with any bankruptcy proceeding involving the energy utility.
As added by P.L.175-2007, SEC.21.