IC 29-3-3-1 — Payment of debt owed to minor; delivery of minor's property in possession of another; use of payment or property
Chapter 3. Proceedings in Lieu of Guardianships
Bills amending this section
Section text
Sec. 1. (a) Any person indebted to a minor or having possession of property belonging to a minor in an amount not exceeding twenty-five thousand dollars ($25,000) may pay the debt or deliver the property without the appointment of a guardian, giving of bond, or other order of court directly to: (1) any person having the care and custody of the minor with whom the minor resides; or (2) a custodian for the benefit of the minor under IC 30-2-8.5. (b) Persons receiving property for a minor under this section are obligated to apply the property to the support, use, and benefit of the minor. (c) This section does not apply if the person paying or delivering the property knows that a guardian has been appointed for the minor or that proceedings for appointment of a guardian for the minor are pending. (d) A person who pays or delivers property in accordance with this section in good faith is not responsible for the proper application of that property.
As added by P.L.169-1988, SEC.1. Amended by P.L.264-1989, SEC.4; P.L.42-1998, SEC.3; P.L.252-2001, SEC.26; P.L.105-2026, SEC.2.
Source: official publisher (2026 edition)