All tangible and intangible property held in a safe deposit box or any other safekeeping repository in this state in the ordinary course of the holder‘s business, and proceeds resulting from the sale of the property permitted by other law, which remain unclaimed by the owner for more than three (3) years after the lease or rental period on the box or other repository has expired, are presumed abandoned.

History of Section.
P.L. 1986, ch. 500, § 3; P.L. 1992, ch. 133, art. 86, § 2.