Indiana Code 5-10.4-5-10. Cancellation of uncashed benefit check
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Sec. 10. (a) If a benefit check issued by the fund is outstanding and unpaid for more than six (6) months after the date the check is issued, the benefit check is canceled.
(c) The cancellation of a benefit check under this section does not discharge the fund’s obligation to pay the benefit for which the canceled benefit check was issued.
(b) A benefit check canceled under subsection (a) may not be honored, cashed, or accepted for payment or deposit by an individual, a bank, a trust company, a savings association, or any other financial institution or person.
Terms Used In Indiana Code 5-10.4-5-10
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
[Pre-2006 Education Finance Recodification Citation: 21-6.1-5-9.5.]
As added by P.L.2-2006, SEC.28.