Section 10 IAC 1.5-3-1 - Books of holderAuthority: IC 32-34-1-52
Affected: IC 32-34-1
Sec. 1.
(a) Unclaimed property on the books of the holder that has been converted to income, reversed back to the account upon which the check or draft was drawn, or any other method used to convert the unclaimed property to an asset of the holder must be reported and submitted to the attorney general.(b) The books and records of the holder are presumptive evidence of the existence of such intangible property.(c) A presumption under subsection (b) may be rebutted by evidence arising from the books and records of the holder, that may include, but are not limited to, stop-payment orders or items that can be verified as accounting errors that establish that the original check or draft was issued in error or reissued to the original payee.Office of Attorney General for the State; 10 IAC 1.5-3-1; filed Jul 1, 1997, 4:15 p.m.: 20 IR 2998; readopted filed Aug 14, 2003, 1:15 p.m.: 27 IR 946; readopted filed Oct 6, 2009, 9:03 a.m.: 20091104-IR-010090575RFAReadopted filed 10/26/2015, 1:48 p.m.: 20151125-IR-010150149RFAReadopted filed 11/10/2021, 4:13 p.m.: 20211208-IR-010210426RFA