Payment of claims; bond or security of creditor; report of
insolvency
Sec. 19. (a) The personal representative at any time shall pay the
claims as the court shall order if the claims are filed within three (3)
months after the date of the first published notice to creditors or the
period allowed under IC 29-1-7-7, if applicable, and the court may
require bond or security to be given by the creditor to refund such
part of such payment as may be necessary to make payment in
accordance with this title.
(b) Prior to the expiration of three (3) months after the date of the
first published notice to creditors or the period allowed under
IC 29-1-7-7, the personal representative, if the estate clearly is
solvent, may pay any claims that the personal representative believes
are just and correct, whether or not the claims have been filed. The
personal representative may require bond or security to be given by
the creditor to refund any part of the payment as the court may
subsequently order. The personal representative, following all such
payments, shall include them in the personal representative's next
account and they shall be considered proper payments under this title
if they are approved by the court as a part of the account.
(c) Upon the expiration of three (3) months after the date of the
first published notice to creditors or the period allowed under
IC 29-1-7-7 and the final adjudication of all claims filed against the
estate, the personal representative shall proceed to pay the claims
that have been allowed against the estate in accordance with this title
that the personal representative has not paid.
(d) If it appears at any time that the estate is or may be insolvent,
that there are insufficient funds on hand, or that there is other good
or sufficient cause, the personal representative may report that fact
to the court and apply for any necessary order.
(Formerly: Acts 1953, c.112, s.1419; Acts 1975, P.L.288, SEC.27.)
As amended by P.L.154-1990, SEC.11; P.L.118-1997, SEC.23;
P.L.252-2001, SEC.22.
Last modified: May 27, 2006