Indiana Code 32-34-1.5-75. Unenforceable agreements to locate or recover property
(b) If a provision in an agreement described in subsection (a) applies to mineral proceeds for which compensation is to be paid to the other person based in whole or in part on a part of the underlying minerals or mineral proceeds not then presumed abandoned, the provision is void regardless of when the agreement was entered into.
Terms Used In Indiana Code 32-34-1.5-75
- 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
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(d) An apparent owner or the attorney general may assert that an agreement described in this section is void on a ground other than it provides for payment of unconscionable compensation.
(e) This section does not apply to an apparent owner’s agreement with an attorney to pursue a claim for recovery of specifically identified property held by the attorney general or to contest the attorney general’s denial of a claim for recovery of the property.
As added by P.L.141-2021, SEC.20.