Indiana § 32-34-1.5-72 Civil penalties for evasion and fraudulent reports

Indiana Statutes

§ 32-34-1.5-72 — Civil penalties for evasion and fraudulent reports

Indiana § 32-34-1.5-72

Title 32PROPERTY

Art. 34LOST OR UNCLAIMED PERSONAL PROPERTY

Ch. 1.5Revised Unclaimed Property Act

This text of Indiana § 32-34-1.5-72 (Civil penalties for evasion and fraudulent reports) 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 § 32-34-1.5-72 (2026).

Text

(a)If a holder enters into a contract or other arrangement for the purpose of evading an obligation under this chapter or otherwise willfully fails to perform a duty imposed on the holder under this chapter, the attorney general may require the holder to pay the attorney general, in addition to interest under section 71(a) of this chapter, a civil penalty of one thousand dollars ($1,000) for each day the obligation is evaded or the duty is not performed, up to a cumulative maximum amount of twenty-five thousand dollars ($25,000), plus twenty-five percent (25%) of the amount or value of property that should have been but was not reported, paid, or delivered as a result of the evasion or failure to perform.

(b)If a holder makes a fraudulent report under this chapter, the attorney general m

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(a) If a holder enters into a contract or
other arrangement for the purpose of evading an obligation under this
chapter or otherwise willfully fails to perform a duty imposed on the
holder under this chapter, the attorney general may require the holder
to pay the attorney general, in addition to interest under section 71(a)
of this chapter, a civil penalty of one thousand dollars ($1,000) for each
day the obligation is evaded or the duty is not performed, up to a
cumulative maximum amount of twenty-five thousand dollars
($25,000), plus twenty-five percent (25%) of the amount or value of
property that should have been but was not reported, paid, or delivered
as a result of the evasion or failure to perform.
(b) If a holder makes a fraudulent report under this chapter, the
attorney general may require the holder to pay to the attorney general,
in addition to interest under section 71(a) of this chapter, a civil penalty
of one thousand dollars ($1,000) for each day from the date the report
was made until corrected, up to a cumulative maximum of twenty-five
thousand dollars ($25,000), plus twenty-five percent (25%) of the
amount or value of any property that should have been reported but was
not included in the report or was underreported.