Indiana § 36-9-37-42 Transfer of unclaimed money to surplus Barrett Law account

Indiana Statutes

§ 36-9-37-42 — Transfer of unclaimed money to surplus Barrett Law account

Indiana·Title 36 LOCAL GOVERNMENT·Art. 9 TRANSPORTATION AND PUBLIC WORKS·Ch. 37 Barrett Law Funding for Municipalities

Balances of money may be transferred to the surplus Barrett Law account established under section 21 of this chapter (or under IC 36-9-19 before its repeal in 1993) if the following conditions are met:

(1)The balances have been on hand for at least ten (10) years.

(2)The balances were collected as waivered assessments for the payment of bonds.

(3)At least one (1) of the following conditions is met:

(A)Bonds have not been presented for payment.

(B)Bonds have:

(i)been presented for payment;

(ii)been withdrawn; and

(iii)have not been not presented for payment again for at least ten (10) years.

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Balances of money may be transferred to the
surplus Barrett Law account established under section 21 of this
chapter (or under IC 36-9-19 before its repeal in 1993) if the following
conditions are met:
(1) The balances have been on hand for at least ten (10) years.
(2) The balances were collected as waivered assessments for the
payment of bonds.
(3) At least one (1) of the following conditions is met:
(A) Bonds have not been presented for payment.
(B) Bonds have:
(i) been presented for payment;
(ii) been withdrawn; and
(iii) have not been not presented for payment again for at
least ten (10) years.

Indiana § 36-9-37-42 (Transfer of unclaimed money to surplus Barrett Law account) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.