Sec. 21. (a) Except as provided in subsection (b) or (c) or another state statute, property located in Indiana or another state is subject to the custody of this state as unclaimed property if the property is presumed abandoned and if:

(1) the last known address of the apparent owner, as shown on the records of the holder, is in Indiana;

(2) the records of the holder do not reflect the identity of the person entitled to the property and it is established that the last known address of the person entitled to the property is in Indiana;

(3) the records of the holder do not reflect the last known address of the apparent owner and it is established that:

(A) the last known address of the person entitled to the property is in Indiana; or

(B) the holder is a domiciliary or a government or governmental subdivision or agency of this state and has not previously paid or delivered the property to the state of the last known address of the apparent owner or other person entitled to the property;

(4) the last known address of the apparent owner, as shown on the records of the holder, is in a state that does not provide for the escheat or custodial taking of the property and the holder is a domiciliary or a government or governmental subdivision or agency of this state;

(5) the last known address of the apparent owner, as shown on the records of the holder, is in a foreign country and the holder is a domiciliary or a government or governmental subdivision or agency of this state;

(6) the transaction out of which the property arose occurred in Indiana, the holder is a domiciliary of a state that does not provide for the escheat or custodial taking of the property, and the last known address of the apparent owner or other person entitled to the property is:

(A) unknown; or

(B) in a state that does not provide for the escheat or custodial taking of the property; or

(7) the property is a traveler's check or money order:

(A) purchased in Indiana; or

(B) for which the issuer of the traveler's check or money order has its principal place of business in Indiana and the issuer's records:

(i) do not show the state in which the instrument was purchased; or

(ii) show that the instrument was purchased in a state that does not provide for the escheat or custodial taking of the property.

(b) Tangible property held in a safe deposit box or any other safekeeping depository in Indiana that is presumed abandoned is subject to the custody of this state regardless of the last known address of the apparent owner.

(c) Tangible property held in a safe deposit box or any other safekeeping depository in another state that is presumed abandoned is subject to the custody of this state if:

(1) the last known address of the owner is in Indiana; and

(2) the property is located in a state that does not provide for the escheat or custodial taking of the property.

[Pre-2002 Recodification Citation: 32-9-1.5-21.]

As added by P.L.2-2002, SEC.19. Amended by P.L.46-2013, SEC.1.