HOUSE ENROLLED ACT No. 1083

IC 32-34-1-20;(10) HE1083.1.2. SECTION 2.IC 32-34-1-20, AS AMENDED BY P.L.85-2005, SECTION 1, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2010]:

(12) For a demand, savings, or matured time deposit, including a deposit that is automatically renewable, three (3) years after maturity or three (3) years after the date of the last indication by the owner of interest in the property, whichever is earlier. Property that is automatically renewable is considered matured for purposes of this section upon the expiration of its initial period, unless the owner has consented to a renewal at or about the time of the renewal and the consent is in writing or is evidenced by a memorandum or other record on file with the holder.
(13) For property payable or distributable in the course of a demutualization, rehabilitation, or related reorganization of a mutual insurance company, three (3) years after the earlier of:
    (A) the date of last contact with the policyholder; or
   (B) the date the property became payable or distributable.
(14) For all other property, the earlier of three (3) years after:
    (A) the owner's right to demand the property; or
    (B) the obligation to pay or distribute the property;
arose.
(d) Property is payable or distributed for purposes of this chapter notwithstanding the owner's failure to make demand or present an instrument or a document otherwise required to receive payment.

Signed by the Governor on 3-17-2010