Section 34-24-3-2 - Irrebuttable presumption of retailer's pecuniary loss; insurance or indemnification prohibited(a) For purposes of determining the amount of damages recoverable under section 1(1) of this chapter, there is an irrebuttable presumption that a retailer who brings a civil action under this chapter (or IC 34-4-30 before its repeal) as the result of a violation of IC 35-43-4-2 (theft), IC 35-43-4-2.2 (organized retail theft), or IC 35-43-4-3 (conversion) suffers a pecuniary loss in the amount of: (1) one hundred dollars ($100) regardless of whether:(A) the property is returned to the retailer; or(B) the actual retail value of the property is less than one hundred dollars ($100); or(2) the retailer's actual damages; whichever is greater.
(b) An individual found liable in a civil action under this chapter (or IC 34-4-30 before its repeal) for violating IC 35-43-4-2, IC 35-43-4-2.2, or IC 35-43-4-3 may not be indemnified or insured for any penalties, damages, or settlement arising from the violation.Pre-1998 Recodification Citation: 34-4-30-1.5.
Amended by P.L. 185-2023,SEC. 3, eff. 7/1/2023.As added by P.L. 1-1998, SEC.19.