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32-34-1-1. Nonapplicability of foreign country property arising out of a foreign transaction; excepted property

IN Code § 32-34-1-1 (2019) (N/A)
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Sec. 1. (a) This chapter does not apply to any property held, due, and owing in a foreign country and arising out of a foreign transaction.

(b) This chapter does not apply to:

(1) stocks;

(2) dividends;

(3) capital credits;

(4) patronage refunds;

(5) utility deposits;

(6) membership fees;

(7) account balances; or

(8) book equities;

for which the owner cannot be found and that are the result of distributable savings of a rural electric membership corporation formed under IC 8-1-13, a rural telephone cooperative corporation formed under IC 8-1-17, or an agricultural cooperative association formed under IC 15-12-1.

(c) This chapter does not apply to unclaimed overpayments of utility bills that become the property of a municipality under IC 36-9-23-28.5.

(d) This chapter does not apply to deposits required by a municipally owned utility (as defined in IC 8-1-2-1).

(e) This chapter does not apply to a business to business credit memorandum or a credit balance resulting from a business to business credit memorandum.

(f) This chapter does not apply to gift certificates or gift cards.

[Pre-2002 Recodification Citation: 32-9-1.5-1.]

As added by P.L.2-2002, SEC.19. Amended by P.L.107-2003, SEC.1; P.L.2-2008, SEC.70.

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32-34-1-2. Citation of law as "unclaimed property act"