What indicates that a corporation has violated the trust fund doctrine?

The trust fund doctrine is a principle that protects the capital contributed by shareholders to a corporation by prohibiting the issuance of shares at a price lower than their stated par value. When a corporation issues shares below their stated par value, it undermines the financial integrity that the doctrine seeks to maintain. This act can jeopardize creditor claims and dilute the asset values attributed to the corporate enterprise.

Thus, when shares are issued at less than par value, it is a clear indication that the corporation is violating the trust fund doctrine. This situation suggests that the shareholders are receiving an improper benefit at the expense of the corporation's financial stability, which is contrary to the legal requirements set forth to protect the capital structure and ensure that there are legitimate investments backing the shares.

Other options may reflect potential financial concerns or mismanagement within a corporation, but they do not directly indicate a violation of the trust fund doctrine in the same manner as issuing shares below par value does.