§ 32-34-1.5-36 — Periods of limitation; commencement of action by attorney general

Indiana § 32-34-1.5-36

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

Text

(a) Expiration before, on, or after the
effective date of this chapter of a period of limitation on an owner's
right to receive or recover property, whether specified by contract,
statute, or court order, does not prevent the property from being
presumed abandoned or affect the duty of the holder under this chapter
to file a report or pay or deliver property to the attorney general.
(b) The attorney general may not commence an action or proceeding
to enforce this chapter with respect to the reporting, payment, or
delivery of property more than five (5) years after the holder filed a
nonfraudulent report under section 18 of this chapter with the attorney
general. The parties may agree in a record to extend the limitation in
this subsection.
(c) The attorney general may not commence an action, proceeding,
or examination with respect to a duty of a holder under this chapter
more than ten (10) years after the duty arose.

Legislative History

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