1. (a) If a sum of money remains in the abandoned property fund for at least five (5) years after the date the money is deposited in the fund under section 2(d) of this chapter without any order directing the return of the money:

   1. (1) title to the sum vests in and escheats to the state; and
   2. (2) the sum shall be deposited in the state general fund.

2. (b) Any claimant who does not file an application with the court within five (5) years after the sum is deposited in the unclaimed funds account is barred from asserting a claim.

   [Pre-2002 Recodification Citation: 32-9-8-4.]

As added by P.L.2-2002, SEC.19. Amended by P.L.246-2005, SEC.218.