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34-24-3-2. Irrebuttable presumption of retailer's pecuniary loss; insurance or indemnification prohibited

IN Code § 34-24-3-2 (2019) (N/A)
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Sec. 2. (a) For purposes of determining the amount of damages recoverable under section 1(1) of this chapter, there is an irrebuttable presumption that a retailer who brings a civil action under this chapter (or IC 34-4-30 before its repeal) as the result of a violation of IC 35-43-4-2 (theft) or IC 35-43-4-3 (conversion) suffers a pecuniary loss in the amount of:

(1) one hundred dollars ($100) regardless of whether:

(A) the property is returned to the retailer; or

(B) the actual retail value of the property is less than one hundred dollars ($100); or

(2) the retailer's actual damages;

whichever is greater.

(b) An individual found liable in a civil action under this chapter (or IC 34-4-30 before its repeal) for violating IC 35-43-4-2 or IC 35-43-4-3 may not be indemnified or insured for any penalties, damages, or settlement arising from the violation.

[Pre-1998 Recodification Citation: 34-4-30-1.5.]

As added by P.L.1-1998, SEC.19.

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