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32-34-1-41. Presumption of abandonment; expiration of period to commence claim or recovery action; effect on reporting and delivery requirements; limitation of actions

IN Code § 32-34-1-41 (2019) (N/A)
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Sec. 41. (a) The expiration of any time specified by contract, statute, or court order, during which:

(1) a claim for money or property can be made; or

(2) an action or a proceeding may be commenced or enforced to obtain payment of a claim for money or to recover property;

does not preclude the money or property from being presumed abandoned or affect any duty to file a report or to pay or deliver abandoned property to the attorney general as required by this chapter.

(b) An action or a proceeding may not be commenced by the attorney general to enforce the provisions of this chapter more than ten (10) years after the holder:

(1) specifically reported the property to the attorney general; or

(2) gave express notice to the attorney general of a dispute regarding the property.

In the absence of a report, the period of limitations is tolled. The period of limitations is also tolled by the filing of a false or fraudulent report.

[Pre-2002 Recodification Citation: 32-9-1.5-42.]

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

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