Indiana § 32-34-1.5-71 Interest rates and civil penalties for undelivered property

Indiana Statutes

§ 32-34-1.5-71 — Interest rates and civil penalties for undelivered property

Indiana § 32-34-1.5-71

Title 32PROPERTY

Art. 34LOST OR UNCLAIMED PERSONAL PROPERTY

Ch. 1.5Revised Unclaimed Property Act

This text of Indiana § 32-34-1.5-71 (Interest rates and civil penalties for undelivered property) 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 § 32-34-1.5-71 (2026).

Text

(a)A holder that fails to report, pay, or deliver property within the time prescribed by this chapter shall pay to the attorney general interest at the following rates:

(1)The annual interest rate for a period of one (1) year or less after the time required by this chapter for reporting, payment, or delivery of property is the one (1) year Treasury Bill rate published in The Wall Street Journal or its successor on the third Tuesday of the month in which the remittance was due, plus one

(1)percentage point.

(2)The interest rate for each year after the initial year to which subdivision (1) applies is the one (1) year Treasury Bill rate published in The Wall Street Journal or its successor on the third Thursday of the month immediately preceding the anniversary of the due date, plus one (

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(a) A holder that fails to report, pay, or
deliver property within the time prescribed by this chapter shall pay to
the attorney general interest at the following rates:
(1) The annual interest rate for a period of one (1) year or less
after the time required by this chapter for reporting, payment, or
delivery of property is the one (1) year Treasury Bill rate
published in The Wall Street Journal or its successor on the third
Tuesday of the month in which the remittance was due, plus one
(1) percentage point.
(2) The interest rate for each year after the initial year to which
subdivision (1) applies is the one (1) year Treasury Bill rate
published in The Wall Street Journal or its successor on the third
Thursday of the month immediately preceding the anniversary of
the due date, plus one (1) percentage point.
(b) Except as otherwise provided in sections 72 and 73 of this
chapter, the attorney general may require a holder that fails to report,
pay, or deliver property within the time prescribed by this chapter to
pay to the attorney general, in addition to interest under subsection (a),
a civil penalty of two hundred dollars ($200) for each day the duty is
not performed, up to a cumulative maximum of five thousand dollars
($5,000).