Indiana § 32-34-1.5-28 Dormancy charge

Indiana Statutes

§ 32-34-1.5-28 — Dormancy charge

Indiana § 32-34-1.5-28

Title 32PROPERTY

Art. 34LOST OR UNCLAIMED PERSONAL PROPERTY

Ch. 1.5Revised Unclaimed Property Act

This text of Indiana § 32-34-1.5-28 (Dormancy charge) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 32-34-1.5-28 (2026).

Text

(a)A holder may deduct a dormancy charge from property required to be paid or delivered to the attorney general if:

(1)a valid contract between the holder and the apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property within a specified time; and

(2)the holder regularly imposes the charge and regularly does not reverse or otherwise cancel the charge.

(b)The amount of the deduction under subsection (a) is limited to an amount that is not unconscionable considering all relevant factors, including the marginal transactional costs incurred by the holder in maintaining the apparent owner's property and any services received by the apparent owner.

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(a) A holder may deduct a dormancy
charge from property required to be paid or delivered to the attorney
general if:
(1) a valid contract between the holder and the apparent owner
authorizes imposition of the charge for the apparent owner's
failure to claim the property within a specified time; and
(2) the holder regularly imposes the charge and regularly does not
reverse or otherwise cancel the charge.
(b) The amount of the deduction under subsection (a) is limited to
an amount that is not unconscionable considering all relevant factors,
including the marginal transactional costs incurred by the holder in
maintaining the apparent owner's property and any services received by
the apparent owner.