Indiana Code 36-10-8-20. Dissolution of boards created under IC 18-7-18; escheat of funds
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Sec. 20. (a) This section applies only to a board that was created under IC 18-7-18 (before its repeal on February 24, 1982).
(b) If the board is dissolved voluntarily or involuntarily, any funds in the possession of the board or to the credit of the board in the possession of the state escheat to the general fund of the county.
As added by Acts 1982, P.L.218, SEC.3. Amended by P.L.3-1990, SEC.149.
Terms Used In Indiana Code 36-10-8-20
- Board: refers to a capital improvement board of managers subject to or created under this chapter. See Indiana Code 36-10-8-2
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC