INDIANA UNCLAIMED PROPERTY ACT
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IC 32-34-1-1
Nonapplicability of foreign country property arising out of a foreign transaction; excepted property
IC 32-34-1-2
Citation of law as "unclaimed property act"
IC 32-34-1-3
"Administrator" defined
IC 32-34-1-4
"Apparent owner" defined
IC 32-34-1-5
"Business association" defined
IC 32-34-1-6
"Domicile" defined
IC 32-34-1-7
"Financial institution" defined
IC 32-34-1-8
"Holder" defined
IC 32-34-1-9
"Insurance company" defined
IC 32-34-1-10
"Last known address" defined
IC 32-34-1-11
"Mineral" defined
IC 32-34-1-12
"Mineral proceeds" defined
IC 32-34-1-13
"Money order" defined
IC 32-34-1-14
"Owner" defined
IC 32-34-1-15
"Person" defined
IC 32-34-1-16
"Political subdivision" defined
IC 32-34-1-17
"Property" defined
IC 32-34-1-18
"State" defined
IC 32-34-1-19
"Utility" defined
IC 32-34-1-20
Owner indication of interest in property; presumption of abandonment
IC 32-34-1-21
Property subject to custody of state as unclaimed property
IC 32-34-1-22
Dormancy charges
IC 32-34-1-23
Prima facie evidence of an obligation; attorney general's burden of proof; affirmative defenses
IC 32-34-1-24
Property in safe deposit box or safekeeping depository
IC 32-34-1-25
Voluntary dissolution of business association, banking organization, or financial institution
IC 32-34-1-26
Report of property presumed abandoned
IC 32-34-1-27
Payment or delivery of property to attorney general; automatically renewable deposits; liability
IC 32-34-1-28
Publication of notice requirements; exceptions
IC 32-34-1-28.5
Unclaimed property resulting from demutualization of insurance company; notice
IC 32-34-1-29
Good faith payment or delivery; custody of state; immunity of holder; reimbursement by holder; reclamation for owner; reimbursement or payment of safe deposit box or safekeeping depository charges
IC 32-34-1-30
Owner entitled to dividends, interest, or other increments realized; exception
IC 32-34-1-31
Public sale of abandoned property by attorney general; sale of securities; transfer of certain property
IC 32-34-1-32
Property custody fund; notice requirements; transfer of principal; claim by apparent owner
IC 32-34-1-33
Abandoned property fund; transfer of certain funds
IC 32-34-1-34
Payment by treasurer; transfer if fund exceeds $500,000; payment of claims over $500,000; deposit recording requirements; earnings credited; interest transfers
IC 32-34-1-35
Custody of property custody fund and abandoned property fund; fund investment; appropriation
IC 32-34-1-36
Filing claim with attorney general; requirements; delivery of property to identified owner
IC 32-34-1-36.5
Filing disclaimer; transfer of disclaimed property
IC 32-34-1-37
Recovery of property by another state; procedure
IC 32-34-1-38
Court action by person
IC 32-34-1-39
Authority to decline receipt of property; delivery of property before presumption of abandonment
IC 32-34-1-40
Destruction or disposition of property with no substantial commercial value; immunity
IC 32-34-1-41
Presumption of abandonment; expiration of period to commence claim or recovery action; effect on reporting and delivery requirements; limitation of actions
IC 32-34-1-42
Request for verified report; examination of records to determine compliance; assessment of cost of examination
IC 32-34-1-43
Records retention; maintenance of records by business associations that sell traveler's checks
IC 32-34-1-44
Interstate agreements; interstate enforcement and actions; document confidentiality
IC 32-34-1-45
Violations
IC 32-34-1-46
Fee agreement to locate, deliver, or recover owner's property
IC 32-34-1-47
Cooperation of state and public agencies
IC 32-34-1-48
Employment of independent consultants
IC 32-34-1-49
Duty to report, pay, or deliver property arising before July 1, 1996
IC 32-34-1-50
General purpose of uniformity among states
IC 32-34-1-51
Maintenance of action in court for enforcement
IC 32-34-1-52
Rules
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Due Diligence Checklist
If you have performed all of these tasks, you have fulfilled your due diligence responsibility as a holder:
- Examine records to find all unclaimed property.
- Determine the owner of the property.
- Use other internal resources to locate owners. For example, if you work for a bank/financial institution and find an inactive account for Jane Smith, before you designate that account as unclaimed, please ensure that your institution does not have an active account for Jane Smith.
- Verify that the owner has made no verbal or written contact with you concerning the property.
- Attempt to contact the owners by first class mail at their last known address.
- Complete in no less than 60 days, but no more than 120 days, before filing report.
- Pay owners you locate.
- Report all unclaimed property to the state.
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