Sec. 5. (a) Within ten (10) days after life insurance proceeds are paid to a resident decedent‘s estate, the life insurance company shall give notice of the payment to the department of state revenue.

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Terms Used In Indiana Code 6-4.1-8-5

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
     (b) Not later than ten (10) days after damages payable under a cause of action maintained by a personal representative under IC 34-9-3-4 are paid to a resident decedent’s estate, the person making the payment shall give notice of the payment to the department of state revenue.

As added by Acts 1976, P.L.18, SEC.1. Amended by Acts 1977(ss), P.L.6, SEC.9; P.L.157-1992, SEC.1; P.L.6-1999, SEC.1; P.L.143-2009, SEC.2; P.L.79-2017, SEC.38.

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