§ 32-34-1.5-30 — Liability for property paid or delivered in good faith

Indiana § 32-34-1.5-30

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

Text

(a) On payment or delivery of property to
the attorney general under this chapter, the attorney general, as agent
for the state, assumes custody and responsibility for safekeeping the
property. A holder that pays or delivers property to the attorney general
in good faith and substantially complies with sections 23 and 24 of this
chapter is relieved of liability arising after with respect to payment or
delivery of the property to the attorney general.
(b) The state must defend and indemnify a holder against liability
on a claim against the holder resulting from the payment or delivery of
property to the attorney general made in good faith and after the holder
substantially complied with sections 23 and 24 of this chapter.

Legislative History

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