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 providedby 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 thedepartment by virtue of the employee's office, the employee:
        (1) shall deliver the money, goods, or other property to anotheremployee of the department as designated by thesuperintendent; 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 inthe possession or control of the employee to whom it wasdelivered 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 weekfor two (2) consecutive weeks in a newspaper of general circulationprinted in the community in which the sale is to be held. The noticemust 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 ofthe property;
may be sold at public auction in accordance with the rules or ordersof the superintendent. If the nature of the property requires animmediate sale, the superintendent may waive the six (6) monthperiod of custody and the notice of sale provided in this section.
    (d) The proceeds of a sale, after deducting all reasonable chargesand expenses incurred in relation to the property, and all money shallbe presumed abandoned and shall be delivered to the attorneygeneral 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.