Sec. 37. (a) Subject to section 38 of this chapter, not earlier than three (3) years after receipt of property presumed abandoned, the attorney general may sell the property.
(b) Before selling property under subsection (a), the attorney general must give notice to the public of:
(1) the date of the sale; and
(2) a reasonable description of the property.
(c) A sale under subsection (a) must be to the highest bidder:
(1) at public sale at a location in this state which the attorney general determines to be the most favorable market for the property;
(2) on the Internet; or
(3) on another forum the attorney general determines is likely to yield the highest net proceeds of sale.
(d) The attorney general may decline the highest bid at a sale under this section and reoffer the property for sale if the attorney general determines the highest bid is insufficient.
(e) If a sale held under this section is to be conducted other than on the Internet, the attorney general must publish at least one (1) notice of the sale, at least three (3) weeks but not more than five (5) weeks before the sale, in a newspaper of general circulation in the county in which the property is sold.
As added by P.L.141-2021, SEC.20.
Structure Indiana Code
Article 34. Lost or Unclaimed Personal Property
Chapter 1.5. Revised Unclaimed Property Act
32-34-1.5-1. Nonapplicability of Chapter
32-34-1.5-2. Citation of Law as "Revised Unclaimed Property Act"
32-34-1.5-4. Presumption of Abandonment
32-34-1.5-5. Presumption of Abandonment for Property Held in a Pension Account or Retirement Account
32-34-1.5-6. Presumption of Abandonment for Property Held in a Tax Deferred Account or Plan
32-34-1.5-7. Presumption of Abandonment for Property Held in an Account Established for Minors
32-34-1.5-8. Presumption of Abandonment for Property Held in a Safe Deposit Box
32-34-1.5-9. Presumption of Abandonment for Securities
32-34-1.5-10. Presumption of Abandonment for Accrued Interest
32-34-1.5-11. Indication of Apparent Owner's Interest
32-34-1.5-12. Death of an Insured or Annuitant; Death Master File
32-34-1.5-13. Proceeds Payable Under an Insurance Policy or Annuity Contract
32-34-1.5-14. Property Located in Another State or Foreign Country
32-34-1.5-15. Property Subject to Custody of State as Unclaimed Property
32-34-1.5-16. Traveler's Checks; Money Orders
32-34-1.5-17. Disputes; Burden of Proof
32-34-1.5-18. Reporting Property Presumed Abandoned
32-34-1.5-19. Reporting Requirements
32-34-1.5-20. Reporting Deadlines
32-34-1.5-21. Retention of Records
32-34-1.5-22. Failure of Owner to Request Payment
32-34-1.5-23. Notice Sent to Apparent Owner
32-34-1.5-24. Notice Requirements
32-34-1.5-25. Publication of Notice in Newspaper and on Internet
32-34-1.5-26. Determining Current Address of Apparent Owner
32-34-1.5-27. Good Faith Payment or Delivery of Property
32-34-1.5-29. Delivery of Property to Attorney General
32-34-1.5-30. Liability for Property Paid or Delivered in Good Faith
32-34-1.5-31. Claims for Reimbursement and Return of Property
32-34-1.5-32. Property Removed From Safe Deposit Box
32-34-1.5-32.5. United States Savings Bonds
32-34-1.5-33. Gain Realized or Accrued on Property
32-34-1.5-34. Declining Custody of Property; Delivering Property Before Presumed Abandoned
32-34-1.5-35. Disposal of Property; Actions Against State
32-34-1.5-36. Periods of Limitation; Commencement of Action by Attorney General
32-34-1.5-37. Sale of Property
32-34-1.5-38. Sale of Securities
32-34-1.5-39. Transfer of Securities
32-34-1.5-40. Property Purchased at Sale
32-34-1.5-41. Medal or Decoration Awarded for Military Service
32-34-1.5-42. Abandoned Property Fund
32-34-1.5-43. Records Maintained by Attorney General
32-34-1.5-44. Deductions; Transfer to State General Fund
32-34-1.5-45. Property Not Owned by State
32-34-1.5-46. Property Subject to Superior Claim
32-34-1.5-47. Right of Another State to Take Custody of Property
32-34-1.5-48. Filing Claims for Property
32-34-1.5-49. Allowing and Denying Claims
32-34-1.5-50. Delivery of Property to Owner; Payment of Enforceable Debt
32-34-1.5-51. Action for Denial of Claim
32-34-1.5-53. Examining Records
32-34-1.5-54. Rules for Examining Records
32-34-1.5-55. Use and Disclosure of Records
32-34-1.5-56. Prima Facie Evidence of Debt or Obligation
32-34-1.5-57. Estimating Value of Property
32-34-1.5-58. Examination Report
32-34-1.5-59. Intervention in Examination; Request for Conference
32-34-1.5-60. Contract With Person to Conduct Examination
32-34-1.5-61. Ethics and Conflicts of Interest
32-34-1.5-62. Annual Report to Treasurer of State
32-34-1.5-63. Determination of Putative Holder's Liability
32-34-1.5-64. Request by Putative Holder for Informal Conference
32-34-1.5-65. Relief From Determination Made by Attorney General
32-34-1.5-66. Administrative Remedies
32-34-1.5-67. Judicial Review and Procedure
32-34-1.5-68. Enforcement of Determination
32-34-1.5-69. Exchanging Records With Another State or Foreign Country
32-34-1.5-70. Action With or on Behalf of Another State or Foreign Country
32-34-1.5-71. Interest Rates and Civil Penalties for Undelivered Property
32-34-1.5-72. Civil Penalties for Evasion and Fraudulent Reports
32-34-1.5-73. Waiving Interest and Penalties
32-34-1.5-74. Agreements to Locate or Recover Property
32-34-1.5-75. Unenforceable Agreements to Locate or Recover Property
32-34-1.5-76. Agent of Apparent Owner
32-34-1.5-77. Personal Information
32-34-1.5-78. Confidential Information
32-34-1.5-79. Disclosing Confidential Information
32-34-1.5-80. Confidentiality Agreements
32-34-1.5-81. Confidential Information in Notice
32-34-1.5-82. Responsibilities for Confidential Information; Security Plan
32-34-1.5-83. Notice of Breach of Confidential Information
32-34-1.5-84. Claims Regarding Confidential Information; Indemnification
32-34-1.5-85. General Purpose of Uniformity Among States