Laws Lawyers Find Laws Legal Forms State Laws Bills

INDIANA STATUTES AND CODES

CHAPTER 5. DISPOSITION OF UNCLAIMED PROPERTY

Listen
IC 10-11-5 Chapter 5. Disposition of Unclaimed Property IC 10-11-5-1 Application Sec. 1. This chapter does not apply to property: (1) seized upon a search warrant; or (2) the custody and disposition of which are otherwise provided by law. As added by P.L.2-2003, SEC.2. IC 10-11-5-2 Delivery of stolen, lost, and abandoned property Sec. 2. If money, goods, or other property that has been stolen, lost, or abandoned comes into the possession of an employee of the department by virtue of the employee's office, the employee: (1) shall deliver the money, goods, or other property to another employee of the department as designated by the superintendent; and (2) is relieved from further responsibility for the money, goods, or other property. As added by P.L.2-2003, SEC.2. IC 10-11-5-3 Public auction proceeds Sec. 3. (a) Except as provided in subsection (c), if: (1) the money, goods, or other property remains unclaimed in the possession or control of the employee to whom it was delivered for six (6) months; and (2) the location of the owner is unknown; the goods or other property shall be sold at public auction. (b) Notice of the sale must be published one (1) time each week for two (2) consecutive weeks in a newspaper of general circulation printed in the community in which the sale is to be held. The notice must include the following information: (1) The time and place of the sale. (2) A description of the property to be sold. (c) Any property that: (1) is perishable; (2) will deteriorate greatly in value by keeping; or (3) the expense of keeping will be likely to exceed the value of the property; may be sold at public auction in accordance with the rules or orders of the superintendent. If the nature of the property requires an immediate sale, the superintendent may waive the six (6) month period of custody and the notice of sale provided in this section. (d) The proceeds of a sale, after deducting all reasonable charges and expenses incurred in relation to the property, and all money shall be presumed abandoned and shall be delivered to the attorney general for deposit into the abandoned property fund for disposition as provided by IC 32-34-1-33 and IC 32-34-1-34. As added by P.L.2-2003, SEC.2.
Loading...
  • Play
  • Pause
  • Volume:
  • Mute
  • Half
  • Max
  • IC 10-11-5
         Chapter 5. Disposition of Unclaimed Property

    IC 10-11-5-1
    Application
        
    Sec. 1. This chapter does not apply to property:
            (1) seized upon a search warrant; or
            (2) the custody and disposition of which are otherwise provided by law.
    As added by P.L.2-2003, SEC.2.

    IC 10-11-5-2
    Delivery of stolen, lost, and abandoned property
        
    Sec. 2. If money, goods, or other property that has been stolen, lost, or abandoned comes into the possession of an employee of the department by virtue of the employee's office, the employee:
            (1) shall deliver the money, goods, or other property to another employee of the department as designated by the superintendent; and
            (2) is relieved from further responsibility for the money, goods, or other property.
    As added by P.L.2-2003, SEC.2.

    IC 10-11-5-3
    Public auction proceeds
        
    Sec. 3. (a) Except as provided in subsection (c), if:
            (1) the money, goods, or other property remains unclaimed in the possession or control of the employee to whom it was delivered for six (6) months; and
            (2) the location of the owner is unknown;
    the goods or other property shall be sold at public auction.
        (b) Notice of the sale must be published one (1) time each week for two (2) consecutive weeks in a newspaper of general circulation printed in the community in which the sale is to be held. The notice must include the following information:
            (1) The time and place of the sale.
            (2) A description of the property to be sold.
        (c) Any property that:
            (1) is perishable;
            (2) will deteriorate greatly in value by keeping; or
            (3) the expense of keeping will be likely to exceed the value of the property;
    may be sold at public auction in accordance with the rules or orders of the superintendent. If the nature of the property requires an immediate sale, the superintendent may waive the six (6) month period of custody and the notice of sale provided in this section.
        (d) The proceeds of a sale, after deducting all reasonable charges and expenses incurred in relation to the property, and all money shall be presumed abandoned and shall be delivered to the attorney general for deposit into the abandoned property fund for disposition

    as provided by IC 32-34-1-33 and IC 32-34-1-34.
    As added by P.L.2-2003, SEC.2.

    Indiana Forms by Issue

    Indiana Court Forms
    >
    >
    >

    Indiana Law

    Indiana State Laws
        > Indiana Child Support
        > Indiana Gun Laws
        > Indiana Statutes
    Indiana Tax
        > Indiana State Tax
    Indiana Labor Laws
        > Unemployment Indiana
    Indiana Agencies
        > Indiana Bureau of Motor Vehicles
        > Indiana Department of Corrections
        > Indiana Department of Education
        > Indiana Department of Revenue
        > Indiana Department of Workforce Development
        > Indiana Sex Offender Registry

    Indiana Court Map

    Tips