The person, firm, partnership, limited liability company, or corporation to whom the charges are payable shall:

1. (1) from the proceeds of sale, deduct the charges due plus the costs of notifying the owner;
2. (2) hold the over-plus, if any, subject to the order of the owner;
3. (3) immediately after the sale mail to the owner at the owner's address, if known, a notice of the sale and the amount of over-plus, if any, due the owner; and

4. (4) at any time within twelve (12) months after the sale, upon demand by the owner, pay to the owner the sums or over-plus.

   [Pre-2002 Recodification Citation: 32-8-23-4.]

As added by P.L.2-2002, SEC.18.