Sec. 3. (a) To receive payment of an ELTF indemnity claim, a claimant must:
(1) submit to the administrator a claim, consisting of a request for indemnification of a third party, containing any information required by the administrator; and
(2) forward a copy of the claim to the attorney general for the attorney general's approval.
(b) The attorney general shall approve an ELTF indemnity claim forwarded under subsection (a)(2) if the attorney general determines that there is:
(1) a legally enforceable and final judgment against the claimant caused by a release of petroleum that was not entered as a result of:
(A) fraud;
(B) negligence; or
(C) an inadequate defense on the part of the attorney of the claimant; or
(2) a reasonable settlement between the claimant and the third party.
(c) If the attorney general approves an ELTF indemnity claim under subsection (b), the administrator shall pay the claim if the claimant is in compliance with the requirements of this article and the rules adopted under this article.
(d) The attorney general shall approve or deny an ELTF indemnity claim under subsection (b) not later than sixty (60) days after receiving the request.
(e) Not more than seven (7) days after approving an ELTF indemnity claim under this section, the attorney general shall forward a copy of the attorney general's notice of approval to the auditor of state.
(f) Not more than thirty (30) days after receiving a notice of approval under subsection (e), the auditor of state shall pay to the claimant the approved amount from money available in the ELTF.
(g) If the attorney general denies an ELTF indemnity claim under this section, the attorney general shall notify the claimant and the administrator of the denial not later than ten (10) days after denying the ELTF indemnity claim.
[Pre-1996 Recodification Citations: 13-7-20-38; 13-7-20-39(b).]
As added by P.L.1-1996, SEC.13. Amended by P.L.9-1996, SEC.23; P.L.14-2001, SEC.16; P.L.96-2016, SEC.36.