10 IAC 1.5-4-12 - Payment of claims

Authority: IC 32-34-1-52

Affected: IC 32-34-1

Sec. 12.

(a) Warrants for payment of unclaimed property shall be authorized and payment made:

(1) in the name of, and mailed to, the established owner;

(2) to the court-appointed estate administrator, administratrix, executor, executrix, or personal representative;

(3) to the court-appointed guardian;

(4) in accordance with a court decree of distribution;

(5) to a creditor;

(6) to a trustee in bankruptcy;

(7) to a receiver; or

(8) to joint claimants.

(b) It shall be the responsibility of the payee to disburse any funds or property in accordance with any existing contract or agreement.

(c) Where there are multiple claimants, the attorney general shall pay one (1) of the claimants only after that claimant has obtained releases from all other claimants allowing payment to that claimant and releasing the attorney general from liability.

Notes

10 IAC 1.5-4-12

Office of Attorney General for the State; 10 IAC 1.5-4-12; filed Jul 1, 1997, 4:15 p.m.: 20 IR 3003; readopted filed Aug 14, 2003, 1:15 p.m.: 27 IR 946; filed Feb 26, 2007, 10:55 a.m.: 20070328-IR-010060498FRA; readopted filed Oct 6, 2009, 9:03 a.m.: 20091104-IR-010090575RFA Readopted filed 10/26/2015, 1:48 p.m.: 20151125-IR-010150149RFA Readopted filed 11/10/2021, 4:13 p.m.: 20211208-IR-010210426RFA