Auction sale of unclaimed property; notice; record; refund
Sec. 1. (a) After a proprietor, manager, or lessee of a hotel in
Indiana holds an unclaimed article for at least three (3) months,
whether or not a receipt or check for the article was given to the
person who left the article, the proprietor, manager, or lessee may
sell the article at a public auction, and, out of the proceeds, retain any
balance due from the person leaving the article, the expenses of
advertising the sale, and the expenses of the sale.
(b) A proprietor, manager, or lessee may not sell the article until:
(1) notice of the sale is sent to the owner by mail, if the name
and address of the owner are known; and
(2) two (2) weeks after the publication of a notice of the sale is
made in a newspaper published at or nearest the place where the
article was left and where the sale will take place.
(c) The notice must contain a description of the article and the
time and place of the sale.
(d) A proprietor, manager, or lessee shall record the amount
received at the sale for each article sold and the balance, if any,
remaining after the balance due and the expenses of the sale have
been paid.
(e) At any time within one (1) year after the sale, a proprietor,
manager, or lessee shall refund the balance referred to in subsection
(d) to the owner of the article or to the owner's heirs or assigns upon
presentation of satisfactory proof of ownership.
As added by P.L.2-2002, SEC.19.
Last modified: May 24, 2006