§ 32-34-1.5-14 — Property located in another state or foreign country

Indiana § 32-34-1.5-14

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 34: LOST OR UNCLAIMED PERSONAL PROPERTY
• Ch. 1.5: Revised Unclaimed Property Act

Text

(a) The following rules apply under this
section:
(1) The last known address of an apparent owner is any
description, code, or other indication of the location of the
apparent owner which identifies the state, even if the description,
code, or indication of location is not sufficient to direct the
delivery of first class United States mail to the apparent owner.
(2) If the United States postal ZIP code associated with the
apparent owner is for a post office located in this state, this state
is deemed to be the state of the last known address of the apparent
owner unless other records associated with the apparent owner
specifically identify the physical address of the apparent owner to
be in another state.
(3) If the address under subdivision (2) is in another state, the
other state is deemed to be the state of the last known address of
the apparent owner.
(4) The address of the apparent owner of a life or endowment
insurance policy or annuity contract or its proceeds is presumed
to be the address of the insured or annuitant if a person other than
the insured or annuitant is entitled to the amount owed under the
policy or contract and the address of the other person is not
known by the insurance company and cannot be determined under
IC 27-2.
(b) The attorney general may take custody of property presumed
abandoned, whether located in this state, another state, or a foreign
country if:
(1) the last known address of the apparent owner in the records of
the holder is in this state; or
(2) the records of the holder do not reflect the identity or last
known address of the apparent owner, but the attorney general has
determined that the last known address of the apparent owner is
in this state.
(c) Except as provided in subsection (d), if records of a holder
reflect multiple addresses for an apparent owner and this state is the
state of the most recently recorded address, this state may take custody
of property presumed abandoned, whether located in this state or
another state.
(d) If it appears from records of the holder that the most recently
recorded address of the apparent owner under subsection (c) is a
temporary address and this state is the state of the next most recently
recorded address that is not a temporary address, this state may take
custody of the property presumed abandoned.
(e) Except as provided elsewhere in this section, the attorney
general may take custody of property presumed abandoned, whether
located in this state, another state, or a foreign country, if the holder is
domiciled in this state or is this state or a governmental subdivision,
agency, or instrumentality of this state, and:
(1) another state or foreign country is not entitled to the property
because there is no last known address of the apparent owner or
other person entitled to the property in the records of the holder;
or
(2) the state or foreign country of the last known address of the
apparent owner or other person entitled to the property does not
provide for custodial taking of the property.
If the holder's state of domicile has changed since the time property
was presumed abandoned, the holder's state of domicile in this
subsection is deemed to be the state where the holder was domiciled at
the time the property was presumed abandoned.
(f) Property is not subject to custody of the attorney general under
subsection (e) if the property is specifically exempt from custodial
taking under the law of this state or the state or foreign country of the
last known address of the apparent owner.
(g) If a holder's state of domicile has changed since the time
property was presumed abandoned, the holder's state of domicile in this
section is deemed to be the state where the holder was domiciled at the
time the property was presumed abandoned.

Legislative History

As added by P.L.141-2021, SEC.20.