Sec. 7. (a) This section applies to a warrant or a check drawn from the public funds of a
political subdivision, if the check or warrant is outstanding and unpaid, but is not determined to be unclaimed
property under
IC 32-34-1.5.
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Terms Used In Indiana Code 5-11-10.5-7
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- Political subdivision: means county, township, city, town, school corporation, library district, fire protection district, public transportation corporation, local hospital authority or corporation, local airport authority district, special service district, special taxing district, or other separate local governmental entity that may sue and be sued. See Indiana Code 5-11-10.5-1
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(1) the fee or compensation agreed upon is not more than ten percent (10%) of the amount collected unless the amount collected is fifty dollars ($50) or less;
(2) the agreement is in writing;
(3) the agreement is signed by the apparent owner; and
(4) the agreement clearly sets forth:
(A) the nature and value of the property; and
(B) the value of the apparent owner’s share after the fee or compensation has been deducted.
(c) This section does not prevent an owner from asserting at any time that an agreement to locate property is otherwise invalid.
As added by P.L.127-2000, SEC.2. Amended by P.L.2-2002, SEC.33; P.L.141-2021, SEC.3.
