Ind. Code § 28-1-3.1-14

Current through P.L. 171-2024

Section 28-1-3.1-14 - Personal property left in possession of closed financial institution; appearances, claims, and disposition

(a) The receiver shall cause notice to be mailed to:

(1) the owners of any personal property left in the possession of a closed financial institution for safekeeping or as bailee or depository for hire;

(2) all lessees; and

(3) other persons in possession of any safe deposit box, vault, or locker;

requiring those persons to appear and assert their claims to the property within sixty (60) days from the date of the notice. Within that time, the owner or owners of the property may appear and assert their claims to the property. Subject to approval of the receivership court, the receiver shall make the agreements or arrangements as may be necessary for the disposition of the property and the contents of the safe deposit boxes, vaults, or lockers and the termination of any leases or other contracts relating to the property.

(b) If the Federal Deposit Insurance Corporation is the receiver, compliance with this section is not required.

IC 28-1-3.1-14

As added by P.L. 141-1984, SEC.2. Amended by P.L. 35-2010, SEC.108.