Section 5-615 - Preference for property held in fiduciary capacity.
§ 5-615. Preference for property held in fiduciary capacity.
In the distribution of the general assets of a trust company that is liquidated or reorganized, the person who succeeds the trust company as a personal representative, guardian, trustee, receiver, or other fiduciary has a preference for all debts and accounts that are due to or held by it as fiduciary over all other debts and liabilities, including salaries and wages of employees.
[An. Code 1957, art. 11, § 86; 1980, ch. 33, § 2.]