Classification of claims.

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29A-3-805. Classification of claims.

(a) If the applicable assets of the estate are insufficient to pay all claims in full, the personal representative shall make payment in the following order:

(1)Costs and expenses of administration;

(2)Reasonable funeral expenses;

(3)Debts and taxes with preference under federal law;

(4)Debts and taxes with preference under other laws of this state;

(5)All other claims.

(b) No preference shall be given in the payment of any claim over any other claim of the same class, and a claim due and payable shall not be entitled to a preference over claims not due.

Source: SL 1994, ch 232, §3-805.


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