2022 Indiana Code
Title 32. Property
Article 34. Lost or Unclaimed Personal Property
Chapter 1.5. Revised Unclaimed Property Act
32-34-1.5-37. Sale of Property

Sec. 37. (a) Subject to section 38 of this chapter, not earlier than three (3) years after receipt of property presumed abandoned, the attorney general may sell the property.

(b) Before selling property under subsection (a), the attorney general must give notice to the public of:

(1) the date of the sale; and

(2) a reasonable description of the property.

(c) A sale under subsection (a) must be to the highest bidder:

(1) at public sale at a location in this state which the attorney general determines to be the most favorable market for the property;

(2) on the Internet; or

(3) on another forum the attorney general determines is likely to yield the highest net proceeds of sale.

(d) The attorney general may decline the highest bid at a sale under this section and reoffer the property for sale if the attorney general determines the highest bid is insufficient.

(e) If a sale held under this section is to be conducted other than on the Internet, the attorney general must publish at least one (1) notice of the sale, at least three (3) weeks but not more than five (5) weeks before the sale, in a newspaper of general circulation in the county in which the property is sold.

As added by P.L.141-2021, SEC.20.