Recovery of property by another state; procedure
Sec. 37. (a) At any time within twenty-five (25) years after the
date on which the property was presumed abandoned under this
chapter, notwithstanding the expiration of any other time specified
by statute, contract, or court order during which an action or
proceeding may be commenced or enforced to obtain payment of a
claim for money or recovery of property, another state may recover
the property if any of the following subdivisions apply:
(1) All of the following apply:
(A) The property was delivered to the custody of this state
because the records of the holder did not reflect the last
known address of the apparent owner when the property was
presumed abandoned under this chapter.
(B) The other state establishes that the last known address of
the apparent owner or other person entitled to the property
was in that state.
(C) Under the laws of that state the property escheated to or
was subject to a claim of abandonment by that state.
(2) The property was paid or delivered to the custody of this
state because the laws of the other state did not provide for the
escheat or custodial taking of the property, and under the laws
of that state subsequently enacted, the property has escheated to
or become subject to a claim of abandonment by that state.
(3) All of the following apply:
(A) The records of the holder did not accurately identify the
owner of the property.
(B) The last known address of the owner is in the other state.
(C) Under the laws of the other state, the property escheated
to or was subject to a claim of abandonment by that state.
(4) The property was subject to custody by this state under
section 21(7) of this chapter and, under the laws of the state of
domicile of the holder, the property has escheated to or become
subject to a claim of abandonment by that state.
(5) All of the following apply:
(A) The property is a sum payable on a traveler's check,
money order, or similar instrument that was delivered into
the custody of this state under section 21(7) of this chapter.
(B) The instrument was purchased in the other state.
(C) Under the laws of the other state, the property escheated
to or is subject to a claim of abandonment by that state.
(b) A claim of another state to recover escheated or abandoned
property must be presented in a form prescribed by the attorney
general. The attorney general shall consider the claim and give
written notice not more than ninety (90) days after the presentation
of the claim to the other state that the claim is granted or denied in
whole or in part. The attorney general shall allow the claim upon a
determination that the other state is entitled to the abandoned
property under subsection (a).
(c) The attorney general shall require another state, before
recovering property under this section, to agree to indemnify this
state and its officers and employees against any liability on a claim
for the property.
As added by P.L.2-2002, SEC.19.
Last modified: May 24, 2006