Indiana Code 32-33-3-4. Proceeds of sale to pay service or storage charges
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Sec. 4. The person, firm, partnership, limited liability company, or corporation to whom the charges are payable shall:
(2) hold the over-plus, if any, subject to the order of the owner;
(1) from the proceeds of sale, deduct the charges due plus the costs of notifying the owner;
Terms Used In Indiana Code 32-33-3-4
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(3) immediately after the sale mail to the owner at the owner’s address, if known, a notice of the sale and the amount of over-plus, if any, due the owner; and
(4) at any time within twelve (12) months after the sale, upon demand by the owner, pay to the owner the sums or over-plus.
[Pre-2002 Recodification Citation: 32-8-23-4.]
As added by P.L.2-2002, SEC.18.