§ 32-34-2-1 — Auction sale of unclaimed property; notice; record; refund

Indiana § 32-34-2-1

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 34: LOST OR UNCLAIMED PERSONAL PROPERTY
• Ch. 2: Sale of Unclaimed Property in Hotels

Text

(a) After a proprietor, manager, or lessee of a
hotel in Indiana holds an unclaimed article for at least three (3) months,
whether or not a receipt or check for the article was given to the person
who left the article, the proprietor, manager, or lessee may sell the
article at a public auction, and, out of the proceeds, retain any balance
due from the person leaving the article, the expenses of advertising the
sale, and the expenses of the sale.
(b) A proprietor, manager, or lessee may not sell the article until:
(1) notice of the sale is sent to the owner by mail, if the name and
address of the owner are known; and
(2) two (2) weeks after the publication of a notice of the sale is
made in a newspaper published at or nearest the place where the
article was left and where the sale will take place.
(c) The notice must contain a description of the article and the time
and place of the sale.
(d) A proprietor, manager, or lessee shall record the amount
received at the sale for each article sold and the balance, if any,
remaining after the balance due and the expenses of the sale have been
paid.
(e) At any time within one (1) year after the sale, a proprietor,
manager, or lessee shall refund the balance referred to in subsection (d)
to the owner of the article or to the owner's heirs or assigns upon
presentation of satisfactory proof of ownership.
[Pre-2002 Recodification Citation: 32-9-2-1.]

Legislative History

As added by P.L.2-2002, SEC.19.