SB 227-1_ Filed 02/17/2000, 13:32
Adopted 2/17/2000


Text Box

Adopted Rejected


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COMMITTEE REPORT


                                                        YES:

8

                                                        NO:
0

MR. SPEAKER:

    Your Committee on       Judiciary     , to which was referred       Senate Bill 227     , has had the same under consideration and begs leave to report the same back to the House with the recommendation that said bill be amended as follows:

SOURCE: Page 1, line 1; (00)CR022702.1. -->     Page 1, between the enacting clause and line 1, begin a new paragraph and insert:
SOURCE: IC 4-10-10-11; (00)CR022702.1. -->     "SECTION 1. IC 4-10-10-11 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2000]: Sec. 11. (a) This section applies to a warrant drawn by the state auditor upon funds in custody of the state treasurer or a check authorized by law to be issued from funds in custody of any other state agency, if the check or warrant is outstanding and unpaid, but is not determined to be unclaimed property under IC 32-9-1.5.
    (b) An agreement for which the primary purpose is to pay compensation to locate, deliver, recover, or assist in the recovery of a check or warrant described in subsection (a) is valid only if:
        (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 of the check or warrant described in subsection (a); 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.

SOURCE: IC 5-11-10.5-7; (00)CR022702.2. -->     SECTION 2. IC 5-11-10.5-7 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2000]: Sec. 11. (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 32-9-1.5.
    (b) An agreement for which the primary purpose is to pay compensation to locate, deliver, recover, or assist in the recovery of a check or warrant described in subsection (a) is valid only if:
        (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.
".
SOURCE: Page 1, line 2; (00)CR022702.1. -->     Page 1, line 2, delete "(a)".
    Page 1, delete lines 16 through 17.
    Page 4, line 14, delete "For" and insert " Until January 1, 2002, for".
    Page 4, line 14, reset in roman "ten (10) years".
    Page 4, line 14, delete "one".
    Page 4, line 15, delete "(1) year".
    Page 4, line 15, after "." insert " Beginning January 1, 2002, for property or proceeds held by a court or a court clerk, other than

property or proceeds related to child support, five (5) years after the property or proceeds become distributable.".
    Page 4, line 17, after "." insert " Beginning January 1, 2002, for property or proceeds related to child support held by a court or a court clerk, ten (10) years after the property or proceeds become distributable.".
    Page 15, between lines 40 and 41, begin a new paragraph and insert:

SOURCE: IC 32-9-8-2; (00)CR022702.19. -->     "SECTION 19. IC 32-9-8-2 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JANUARY 1, 2002]: Sec. 2. (a) All money, other than money related to child support, that remains in the office of a clerk for a period of ten (10) five (5) years after being distributable without being claimed by the person entitled to it shall be collected by the attorney general. All money related to child support that remains in the office of a clerk for a period of ten (10) years after being distributable without being claimed by the person entitled to it shall be collected by the attorney general. Clerks shall deliver that money to the attorney general upon demand, and the attorney general shall:
        (1) make a record of the money collected; and
        (2) turn it over to the treasurer of state.
    (b) The treasurer of state shall deposit the money in the unclaimed funds account.".
    Renumber all SECTIONS consecutively.
    (Reference is to SB 227 as reprinted January 25, 2000.)

and when so amended that said bill do pass.

__________________________________

Representative Villalpando


CR022702/DI 94    2000