AN ACT to amend the Indiana Code concerning property.
SECTION 1. IC 32-9-1.5-1 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2001]: Sec. 1. (a) This chapter does
not apply to any property held, due, and owing in a foreign country and
arising out of a foreign transaction.
(b) This chapter does not apply to stocks, dividends, capital credits,
patronage refunds, utility deposits, membership fees, account balances,
or book equities for which the owner cannot be found and that are the
result of distributable savings of a rural electric membership
corporation formed under IC 8-1-13, a rural telephone cooperative
corporation formed under IC 8-1-17, or an agricultural cooperative
association formed under IC 15-7-1.
(c) This chapter does not apply to unclaimed overpayments of utility
bills that become the property of a municipality under IC 36-9-23-28.5.
(d) This chapter does not apply to deposits required by a
municipally owned utility (as defined in IC 8-1-2-1).
(e) This chapter does not apply to a business to business credit
memorandum or a credit balance resulting from a business to
business credit memorandum.