HOUSE BILL No. 1481
DIGEST OF INTRODUCED BILL
Synopsis: Employee unpaid wage claims. Increases from $600 to
$2,000 the maximum amount an employee may claim as unpaid
compensation against an employer that goes out of business or files
bankruptcy. Establishes: (1) an employee's claim for unpaid
compensation as a secured interest; and (2) the employee as a secured
Effective: July 1, 2003.
January 15, 2003, read first time and referred to Committee on Labor and Employment.
First Regular Session 113th General Assembly (2003)
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HOUSE BILL No. 1481
A BILL FOR AN ACT to amend the Indiana Code concerning labor
and industrial safety.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 22-2-10-1; (03)IN1481.1.1. -->
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 1.
property of any company, corporation, limited liability company, firm,
or person, engaged in any manufacturing, mechanical, agricultural, or
other business or employment, or in the construction of any work or
building, shall be seized upon any mesne or final process of any court
of the state, or where their business shall be suspended by the action of
creditors or put into the hands of any assignee, receiver, or trustee, then
in all such cases
the debts owing to
laborers or employees
accrued by reason of their labor or employment to shall have a claim
an amount not exceeding
six hundred two thousand
to each ($2,000) per
employee for work and labor performed within
three (3) months
next preceding before
the seizure of such property.
shall be considered and treated as
preferred debts a
laborers or employees having a claim
for unpaid compensation
shall be first paid in full, and if there be not sufficient to pay them in
full then the same shall be paid to them pro rata, after paying costs;
however, the term employees as used in this section shall include
traveling salesmen, traveling agents, and manufacturers' agents,
whether they are employed under monthly or yearly contracts or
SOURCE: ; (03)IN1481.1.2. -->
SECTION 2. [EFFECTIVE JULY 1, 2003]
amended by this act, applies to compensation first payable after
June 30, 2003.