Indiana Code 32-34-1.5-42. Abandoned property fund
Current as of: 2023 | Check for updates
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Sec. 42. (a) Except as otherwise provided in this section, the attorney general shall transfer to the treasurer of state for deposit in the abandoned property fund all funds received under this chapter, including proceeds from the sale of property under sections 37 and 38 of this chapter.
(b) The attorney general shall maintain an account with an amount of funds the attorney general reasonably estimates is sufficient to pay claims allowed under this chapter. If the aggregate amount of claims by owners allowed at any time exceeds the amount held in the account, an excess claim must be paid out of the state general fund.
As added by P.L.141-2021, SEC.20.
Terms Used In Indiana Code 32-34-1.5-42
- 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
- Property: includes personal and real property. See Indiana Code 1-1-4-5