Nonapplicability of foreign country property arising out of a
foreign transaction; excepted property
Sec. 1. (a) This chapter does not apply to any property held, due,
and owing in a foreign country and arising out of a foreign
transaction.
(b) This chapter does not apply to:
(1) stocks;
(2) dividends;
(3) capital credits;
(4) patronage refunds;
(5) utility deposits;
(6) membership fees;
(7) account balances; or
(8) book equities;
for which the owner cannot be found and that are the result of
distributable savings of a rural electric membership corporation
formed under IC 8-1-13, a rural telephone cooperative corporation
formed under IC 8-1-17, or an agricultural cooperative association
formed under IC 15-7-1.
(c) This chapter does not apply to unclaimed overpayments of
utility bills that become the property of a municipality under
IC 36-9-23-28.5.
(d) This chapter does not apply to deposits required by a
municipally owned utility (as defined in IC 8-1-2-1).
(e) This chapter does not apply to a business to business credit
memorandum or a credit balance resulting from a business to
business credit memorandum.
(f) This chapter does not apply to gift certificates or gift cards.
As added by P.L.2-2002, SEC.19. Amended by P.L.107-2003, SEC.1.
Last modified: May 24, 2006