Indiana § 32-34-1.5-44 Deductions; transfer to state general fund

Indiana Statutes

§ 32-34-1.5-44 — Deductions; transfer to state general fund

Indiana § 32-34-1.5-44

Title 32PROPERTY

Art. 34LOST OR UNCLAIMED PERSONAL PROPERTY

Ch. 1.5Revised Unclaimed Property Act

This text of Indiana § 32-34-1.5-44 (Deductions; transfer to state general fund) 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 § 32-34-1.5-44 (2026).

Text

(a)Before transferring funds received under this chapter to the treasurer of state for deposit in the abandoned property fund, the attorney general may deduct:

(1)expenses of disposition of property delivered to the attorney general under this chapter;

(2)costs of mailing and publication in connection with property delivered to the attorney general under this chapter;

(3)reasonable service charges; and

(4)expenses incurred in examining records of or collecting property from a putative holder or holder.

(b)If the balance of the principal in the abandoned property fund exceeds five hundred thousand dollars ($500,000), the treasurer of state may, and at least once each fiscal year shall, transfer to the state general fund the balance of the principal of the abandoned property fund that

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(a) Before transferring funds received
under this chapter to the treasurer of state for deposit in the abandoned
property fund, the attorney general may deduct:
(1) expenses of disposition of property delivered to the attorney
general under this chapter;
(2) costs of mailing and publication in connection with property
delivered to the attorney general under this chapter;
(3) reasonable service charges; and
(4) expenses incurred in examining records of or collecting
property from a putative holder or holder.
(b) If the balance of the principal in the abandoned property fund
exceeds five hundred thousand dollars ($500,000), the treasurer of state
may, and at least once each fiscal year shall, transfer to the state
general fund the balance of the principal of the abandoned property
fund that exceeds five hundred thousand dollars ($500,000).
(c) If a claim is allowed or a refund is ordered under this chapter
that is more than five hundred thousand dollars ($500,000), the
treasurer of state shall transfer from the state general fund sufficient
money to make prompt payment of the claim. There is annually
appropriated to the treasurer of state from the state general fund the
amount of money sufficient to implement this subsection.
(d) Except as provided in subsection (e), earnings on the abandoned
property fund must be credited to the fund.
(e) On July 1 of each year, the interest balance in the abandoned
property fund must be transferred to the state general fund.