Unclaimed property resulting from demutualization of insurance
company; notice
Sec. 28.5. (a) The attorney general shall publish a notice not later
than November 30 of the year immediately following the year in
which unclaimed property as a result of a demutualization of an
insurance company has been paid or delivered to the attorney
general.
(b) The notice required by subsection (a) must be published at
least once in a newspaper of general circulation published in the
county of Indiana of the last known address of any person named in
the notice.
(c) If the holder does not report an address for the apparent owner,
the notice must be published in the county in which the holder has its
principal place of business within Indiana or any other county that
the attorney general may reasonably select.
(d) The advertised notice required by this section must be in a
form that, in the judgment of the attorney general, will attract the
attention of the apparent owner of the unclaimed property. The
advertised notice is not subject to the rate prescribed in IC 5-3-1-1.
The rate may not be higher than the rate set in IC 5-3-1-1.
(e) The advertised notice must contain the following information:
(1) The name of each person appearing to be an owner of
property that is presumed abandoned, as set forth in the report
filed by the holder.
(2) The last known address or location of each person appearing
to be an owner of property that is presumed abandoned, if an
address or a location is set forth in the report filed by the
holder.
(3) A statement explaining that the property of the owner is
presumed to be abandoned and has been taken into protective
custody of the attorney general.
(4) A statement that information about the abandoned property
and its return to the owner is available, upon request, from the
attorney general, to a person having a legal or beneficial interest
in the property.
(f) The attorney general is not required to include any item with
a value of less than one hundred dollars ($100) in the notice.
As added by P.L.81-2004, SEC.28.
Last modified: May 24, 2006