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Text: SF00073                           Text: SF00075
Text: SF00000 - SF00099                 Text: SF Index
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Senate File 74

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 556.2, subsection 4, Code 1995, is
  1  2 amended to read as follows:
  1  3    4.  Any sum payable on checks certified in this state or on
  1  4 written instruments issued in this state on which a banking or
  1  5 financial organization or business association is directly
  1  6 liable, including, by way of illustration but not of
  1  7 limitation, certificates of deposit, drafts, money orders, and
  1  8 traveler's checks, that, with the exception of traveler's
  1  9 checks and money orders, has been outstanding for more than
  1 10 three years from the date it was payable, or from the date of
  1 11 its issuance if payable on demand, or, in the case of
  1 12 traveler's checks, that has been outstanding for more than
  1 13 fifteen years from the date of its issuance, or, in the case
  1 14 of money orders, that has been outstanding for more than seven
  1 15 years from the date of issuance, unless the owner has within
  1 16 three years, or within fifteen years in the case of traveler's
  1 17 checks or seven years in the case of money orders,
  1 18 corresponded in writing with the banking or financial
  1 19 organization or business association concerned, or otherwise
  1 20 indicated an interest as evidenced by a memorandum on file
  1 21 with the banking or financial organization or business
  1 22 association.  The memorandum shall be dated and may have been
  1 23 prepared by the banking or financial organization or business
  1 24 association, in which case it shall be signed by an officer of
  1 25 the banking or financial organization, or a member of the
  1 26 business association, or it may have been prepared by the
  1 27 owner.  
  1 28                           EXPLANATION
  1 29    This bill changes the period of abandonment for money
  1 30 orders under Iowa's uniform disposition of unclaimed property
  1 31 Act from three to seven years.  
  1 32 LSB 1719SS 76
  1 33 ec/jw/5
     
Text: SF00073                           Text: SF00075
Text: SF00000 - SF00099                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index
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