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Indiana Code Title 32. Property § 32-34-1.5-34

Current as of January 02, 2024 | Updated by Findlaw Staff

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 the property would be unlawful.

(b) A holder may pay or deliver property to the attorney general before the property is presumed abandoned under this chapter if the holder:

(1) sends the apparent owner of the property notice required by section 23 of this chapter and provides the attorney general evidence of the holder's compliance with this subsection;

(2) includes with the payment or delivery a report regarding the property conforming to section 19 of this chapter;  and

(3) first obtains the attorney general's consent in a record to accept payment or delivery.

(c) A holder's request for the attorney general's consent under subsection (b)(3) must be in a record.  If the attorney general fails to respond to the request not later than thirty (30) days after receipt of the request, the attorney general is deemed to have denied the payment or delivery of the property.

(d) On payment or delivery of property under subsection (b), the property is presumed abandoned.

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Cite this article: FindLaw.com - Indiana Code Title 32. Property § 32-34-1.5-34 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-32-property/in-code-sect-32-34-1-5-34/

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