Indiana Code Title 32. Property § 32-28-3-15

(1) performs labor, supplies services, or furnishes material or machinery in the:

of a building, structure, or other work;

(2) accepts payment for the labor, services, material, or machinery furnished and supplied;

(3) at the time of receiving the payment, knows that the person is indebted to another for:

used or employed in the construction, repair, or remodeling;

(4) fails:

to notify in writing the person from whom the payment was received of the existence of the outstanding indebtedness;  and

(5) causes the person from whom the payment was received to suffer a loss by failing under subdivision (4) to notify the person of the existence of the outstanding indebtedness;