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Can you summarize IC 32-34-1.5?
LOST OR UNCLAIMED PERSONAL PROPERTY > Revised Unclaimed Property Act
Short Summary
The Revised Unclaimed Property Act under the Indiana Code governs the handling of lost or unclaimed personal property in Indiana. It specifies the time periods after which certain types of property are presumed abandoned if unclaimed by the apparent owner. The act applies to apparent owners of unclaimed property in Indiana. The document outlines the obligations of holders of unclaimed property, including reporting requirements and the delivery of property to the attorney general. It also provides guidelines for determining when property held in pension or retirement accounts is considered abandoned. The act does not mention any specific exemptions or penalties for non-compliance or violations.
Whom does it apply to?
The act applies to apparent owners of unclaimed property in Indiana.
What does it govern?
The Revised Unclaimed Property Act governs the presumption of abandonment for various types of unclaimed property.
What are exemptions?
The act does not mention any specific exemptions.
What are the Penalties?
The act does not specify penalties for non-compliance or violations.
Jurisdiction
Indiana