§ 3-804. Voluntary dissolution -- Preference for property held in fiduciary capacity

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In the distribution of the general assets of a trust company that dissolves voluntarily, 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.

HISTORY: An. Code 1957, art. 11, § 86; 1980, ch. 33, § 2.

                    
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