Title 32, PROPERTY

Sec. 32. Property removed from a safe deposit box and delivered to the attorney general under this chapter is subject to the holder's right to reimbursement for the cost of opening the box and a lien or contract providing reimbursement to the holder for unpaid rent charges for th…

Sec. 32.5. (a) Notwithstanding section 30(a) of this chapter, United States savings bonds that are presumed abandoned under this chapter escheat to the state subject to the provisions of this chapter. All property rights and legal title to United States savings bonds and proceeds…

Sec. 33. (a) If property other than money is delivered to the attorney general, the owner is entitled to receive from the attorney general income or gain realized or accrued on the property before the property is sold. (b) If the property was an interest bearing demand, savings, …

Sec. 34. (a) The attorney general may decline to take custody of property reported under section 18 of this chapter if the attorney general determines that: (1) the property has a value less than the estimated expenses of notice and sale of the property; or (2) taking custody of …

Sec. 35. (a) If the attorney general takes custody of property delivered under this chapter and later determines that the property has no substantial commercial value or that the cost of disposing of the property will exceed the value of the property, the attorney general may ret…

Sec. 36. (a) Expiration before, on, or after the effective date of this chapter of a period of limitation on an owner's right to receive or recover property, whether specified by contract, statute, or court order, does not prevent the property from being presumed abandoned or aff…

Sec. 37. (a) Subject to section 38 of this chapter, not earlier than three (3) years after receipt of property presumed abandoned, the attorney general may sell the property. (b) Before selling property under subsection (a), the attorney general must give notice to the public of:…

Sec. 38. (a) The attorney general shall sell a security as soon as reasonably possible. (b) The attorney general may not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The attorney general may sell a…

Sec. 39. If a valid claim is made for a security in the possession of the attorney general, the attorney general shall: (1) transfer the security to the claimant; or (2) pay the claimant the value of the security as of the date the security was delivered to the attorney general. …

Sec. 4. Subject to section 11 of this chapter, the following property is presumed abandoned if it is unclaimed by the apparent owner during the period specified as follows: (1) For a traveler's check, fifteen (15) years after issuance. (2) For a money order, seven (7) years after…

Sec. 40. A purchaser of property at a sale conducted by the attorney general under this chapter takes the property free of all claims of the owner, a previous holder, or a person claiming through the owner or holder. The attorney general shall execute documents necessary to compl…

Sec. 41. (a) The attorney general may not sell a medal or decoration awarded for military service in the armed forces of the United States. (b) The attorney general, with the consent of the respective organization under subdivision (1), agency under subdivision (2), or entity und…

Sec. 42. (a) Except as otherwise provided in this section, the attorney general shall transfer to the treasurer of state for deposit in the abandoned property fund all funds received under this chapter, including proceeds from the sale of property under sections 37 and 38 of this…

Sec. 43. The attorney general shall: (1) record and retain the name and last known address of each person shown on a report filed under section 18 of this chapter to be the apparent owner of property delivered to the attorney general; (2) record and retain the name and last known…

Sec. 44. (a) Before transferring funds received under this chapter to the treasurer of state for deposit in the abandoned property fund, the attorney general may deduct: (1) expenses of disposition of property delivered to the attorney general under this chapter; (2) costs of mai…

Sec. 45. Property received by the attorney general under this chapter is held in custody for the benefit of the owner and is not owned by the state. As added by P.L.141-2021, SEC.20.

Sec. 46. (a) If the attorney general knows that property held by the attorney general under this chapter is subject to a superior claim of another state, the attorney general shall: (1) report and pay or deliver the property to the other state; (2) return the property to the hold…

Sec. 47. (a) Property held under this chapter by the attorney general is subject to the right of another state to take custody of the property if: (1) the property was paid or delivered to the attorney general because the records of the holder did not reflect a last known address…

Sec. 48. (a) A person claiming to be the owner of property held under this chapter by the attorney general may file a claim for the property on a form prescribed by the attorney general. The claimant must verify the claim as to its completeness and accuracy. (b) The attorney gene…

Sec. 49. (a) The attorney general shall pay or deliver property to a claimant under section 48(a) of this chapter if the attorney general receives evidence sufficient to establish to the satisfaction of the attorney general that the claimant is the owner of the property. (b) Not …

Sec. 5. (a) Subject to section 11 of this chapter, property held in a pension account or retirement account that qualifies for tax deferral under federal income tax laws is presumed abandoned if it is unclaimed by the apparent owner three (3) years after the later of the followin…

Sec. 50. (a) Not later than thirty (30) days after a claim is allowed under section 49(b) of this chapter, the attorney general shall pay or deliver to the owner the property or pay to the owner the net proceeds of a sale of the property, together with income or gain to which the…

Sec. 51. Not later than one (1) year after filing a claim under section 48(a) of this chapter, the claimant may commence an action against the attorney general in a court with jurisdiction to establish a claim that has been denied or deemed denied under section 49(d) of this chap…

Sec. 52. If a person does not file a report required by section 18 of this chapter or the attorney general believes that a person may have filed an inaccurate, incomplete, or false report, the attorney general may require the person to file a verified report in a form prescribed …

Sec. 53. The attorney general, at reasonable times and with reasonable notice, may: (1) examine the records of a person, including examination of appropriate records in the possession of an agent of the person under examination, if the records are reasonably necessary to determin…

Sec. 54. (a) The attorney general may adopt rules under IC 4-22-2 governing procedures and standards for an examination under section 53 of this chapter, including rules for use of an estimation, extrapolation, and statistical sampling in conducting an examination. (b) An examina…

Sec. 55. Records obtained and records, including work papers, compiled by the attorney general in the course of conducting an examination under section 53 of this chapter: (1) are subject to the confidentiality and security provisions of sections 77, 78, 79, 80, 81, 82, 83, and 8…

Sec. 56. (a) A record of a putative holder showing an unpaid debt or undischarged obligation is prima facie evidence of the debt or obligation. (b) A putative holder may establish by a preponderance of the evidence that there is no unpaid debt or undischarged obligation for a deb…

Sec. 57. If a person subject to examination under section 53 of this chapter does not retain the records required by section 21 of this chapter, the attorney general may determine the value of property due using a reasonable method of estimation based on all information available…

Sec. 58. At the conclusion of an examination under section 53 of this chapter, the attorney general or the attorney general's agent shall provide to the person whose records were examined a complete and unredacted examination report that specifies: (1) the work performed; (2) the…

Sec. 59. (a) If a person subject to examination under section 53 of this chapter believes the person conducting the examination has made an unreasonable or unauthorized request or is not proceeding expeditiously to complete the examination, the person in a record may ask the atto…

Sec. 6. Subject to section 11 of this chapter and except for property described in section 5 of this chapter and property held in a plan described in Section 529A of the Internal Revenue Code, property held in an account or plan, including a health savings account, that qualifies…

Sec. 60. (a) As used in this section, "related to the attorney general" means an individual who is: (1) the attorney general's spouse, partner in a civil union, domestic partner, or reciprocal beneficiary; (2) the attorney general's child, stepchild, grandchild, parent, stepparen…

Sec. 61. The attorney general or an individual employed by the attorney general who participates in, recommends, or approves the award of a contract under section 60(b) of this chapter on or after July 1, 2021, is subject to the ethics and conflicts of interest provisions under I…

Sec. 62. (a) Not later than three (3) months after the end of the fiscal year, the attorney general shall compile and submit a report to the treasurer of state. The report must contain the following information about property presumed abandoned for the preceding fiscal year for t…

Sec. 63. If the attorney general determines from an examination conducted under section 53 of this chapter that a putative holder failed or refused to pay or deliver to the attorney general property which is reportable under this chapter, the attorney general shall issue a determ…

Sec. 64. (a) Not later than thirty (30) days after receipt of a notice under section 63 of this chapter, the putative holder may request an informal conference with the attorney general to review the determination. Except as otherwise provided in this section, the attorney genera…

Sec. 65. A putative holder may seek relief from a determination under section 63 of this chapter by: (1) administrative review under section 66 of this chapter; and (2) after the administrative remedies under section 66 of this chapter are exhausted, judicial review under section…

Sec. 66. (a) Not later than ninety (90) days after receiving notice of the attorney general's determination under section 63 of this chapter, a putative holder may initiate a proceeding under IC 4-21.5 for review of the attorney general's determination. (b) A final decision in an…

Sec. 67. (a) Not later than ninety (90) days after the putative holder has exhausted the administrative remedies available in section 66 of this chapter, the putative holder may: (1) file an action against the attorney general in a court with jurisdiction challenging the attorney…

Sec. 68. If a determination under section 63 of this chapter becomes final and is not subject to administrative or judicial review, the attorney general may commence an action in a court with jurisdiction over the defendant to enforce the determination and secure payment or deliv…

Sec. 69. (a) Subject to subsection (b), the attorney general may: (1) exchange information with another state or foreign country relating to property presumed abandoned or relating to the possible existence of property presumed abandoned; and (2) authorize in a record another sta…

Sec. 7. (a) Subject to section 11 of this chapter, property held in an account established under a state's Uniform Gifts to Minors Act or Uniform Transfers to Minors Act is presumed abandoned if it is unclaimed by or on behalf of the minor on whose behalf the account was opened t…

Sec. 70. (a) The attorney general may join another state or foreign country to examine and seek enforcement of this chapter against a putative holder. (b) On request of another state or foreign country, the attorney general may commence an action on behalf of the other state or c…

Sec. 71. (a) A holder that fails to report, pay, or deliver property within the time prescribed by this chapter shall pay to the attorney general interest at the following rates: (1) The annual interest rate for a period of one (1) year or less after the time required by this cha…

Sec. 72. (a) If a holder enters into a contract or other arrangement for the purpose of evading an obligation under this chapter or otherwise willfully fails to perform a duty imposed on the holder under this chapter, the attorney general may require the holder to pay the attorne…