Indiana Code 32-34-1.5-19. Reporting requirements
(1) be signed by or on behalf of the holder and verified as to its completeness and accuracy;
Terms Used In Indiana Code 32-34-1.5-19
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
- Verified: when applied to pleadings, means supported by oath or affirmation in writing. See Indiana Code 1-1-4-5
(3) describe the property;
(4) contain:
(A) the name, if known;
(B) the last known address, if known; and
(C) the Social Security number or taxpayer identification number, if known or readily ascertainable;
of the apparent owner of the property of property with a value of fifty dollars ($50) or more;
(5) for an amount held or owing under a life or endowment insurance policy or annuity contract, contain the name and last known address of the insured, annuitant, or other apparent owner of the policy or contract and of the beneficiary;
(6) for property held in or removed from a safe deposit box, indicate the location of the property, where it may be inspected by the attorney general, and any amounts owed to the holder under section 32 of this chapter;
(7) contain the commencement date for determining abandonment under sections 4, 5, 6, 7, 8, and 9 of this chapter;
(8) state that the holder has complied with the notice requirements of section 23 of this chapter;
(9) identify property that is a non-freely transferable security and explain why it is a non-freely transferable security; and
(10) include any other information required by the attorney general.
(b) A report required under section 18 of this chapter may include in the aggregate items valued under fifty dollars ($50) each. If the report includes items in the aggregate valued under fifty dollars ($50) each, the attorney general may require the holder to provide the name and address of an apparent owner of an item, if known.
(c) A report required under section 18 of this chapter may include personal information as defined in section 77(a) of this chapter about the apparent owner or the apparent owner’s property to the extent not otherwise prohibited by federal law.
(d) If a holder has changed its name while holding property presumed abandoned or is a successor to another person that previously held the property for the apparent owner, the holder must include in the report required under section 18 of this chapter its former name or the name of the previous holder, if any, and the known name and address of each previous holder of the property.
(e) In the case of a report of virtual currency to the attorney general, the holder shall liquidate the virtual currency at any time within thirty (30) days before filing the report required under section 18 of this chapter and remit the proceeds to the attorney general. The owner shall have no recourse against either the:
(1) holder; or
(2) attorney general;
for any change in value after the liquidation required by this subsection.
As added by P.L.141-2021, SEC.20. Amended by P.L.101-2023, SEC.4.