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Text: SF00374                           Text: SF00376
Text: SF00300 - SF00399                 Text: SF Index
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Senate File 375

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 556.1, Code 1995, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  5A.  "Money order" includes an express
  1  4 money order and a personal money order, on which the remitter
  1  5 is the purchaser.  "Money order" does not include a bank money
  1  6 order or any other instrument sold by a banking or financial
  1  7 organization if the seller has obtained the name and address
  1  8 of the payee.
  1  9    Sec. 2.  Section 556.2, subsection 4, Code 1995, is amended
  1 10 to read as follows:
  1 11    4.  Any sum payable on checks certified in this state or on
  1 12 written instruments issued in this state on which a banking or
  1 13 financial organization or business association is directly
  1 14 liable, including, by way of illustration but not of
  1 15 limitation, certificates of deposit, drafts, money orders, and
  1 16 traveler's checks, that, with the exception of traveler's
  1 17 checks and money orders, has been outstanding for more than
  1 18 three years from the date it was payable, or from the date of
  1 19 its issuance if payable on demand, or, in the case of
  1 20 traveler's checks, that has been outstanding for more than
  1 21 fifteen years from the date of its issuance, or, in the case
  1 22 of money orders, that has been outstanding for more than seven
  1 23 years from the date of issuance, unless the owner has within
  1 24 three years, or within fifteen years in the case of traveler's
  1 25 checks or seven years in the case of money orders,
  1 26 corresponded in writing with the banking or financial
  1 27 organization or business association concerned, or otherwise
  1 28 indicated an interest as evidenced by a memorandum on file
  1 29 with the banking or financial organization or business
  1 30 association.  The memorandum shall be dated and may have been
  1 31 prepared by the banking or financial organization or business
  1 32 association, in which case it shall be signed by an officer of
  1 33 the banking or financial organization, or a member of the
  1 34 business association, or it may have been prepared by the
  1 35 owner.
  2  1    Sec. 3.  Section 556.11, subsection 4, Code 1995, is
  2  2 amended to read as follows:
  2  3    4.  The report shall be filed annually before November 1 of
  2  4 each year as of for the fiscal year ending on the preceding
  2  5 June 30 next preceding, but the report of life insurance
  2  6 corporations shall be filed before May 1 of each year as of
  2  7 December 31 next preceding.  The state treasurer of state may
  2  8 postpone the reporting date upon written request by any person
  2  9 required to file a report.
  2 10    Sec. 4.  Section 556.12, subsection 1, Code 1995, is
  2 11 amended to read as follows:
  2 12    1.  Within one hundred twenty days from the final date for
  2 13 filing of the report If a report has been filed with the
  2 14 treasurer of state, or property has been paid or delivered to
  2 15 the treasurer of state, for the fiscal year ending on June 30
  2 16 as required by section 556.11, the state treasurer of state
  2 17 shall cause provide for the publication annually of at least
  2 18 one notice not later than the following November 30.  Each
  2 19 notice to shall be published at least once each week for two
  2 20 successive weeks in an English language newspaper of general
  2 21 circulation in the county in this state in which is located
  2 22 the last known address of any person to be named in the
  2 23 notice.  If no an address is not listed or if the address is
  2 24 outside this state, the notice shall be published in the
  2 25 county in which the holder of the abandoned property has its
  2 26 principal place of business within this state.
  2 27    Sec. 5.  Section 556.22, Code 1995, is amended to read as
  2 28 follows:
  2 29    556.22  ELECTION TO TAKE PAYMENT OR DELIVERY ELECTIONS BY
  2 30 THE TREASURER OF STATE.
  2 31    1.  The treasurer of state may elect to allow a holder to
  2 32 file a report as provided in section 556.11, or to deliver or
  2 33 pay property to the treasurer, before the property is presumed
  2 34 abandoned, upon consent of the treasurer and according to
  2 35 terms and conditions prescribed by the treasurer.
  3  1    2.  The state treasurer of state, after receiving reports
  3  2 of property deemed abandoned pursuant to this chapter, may
  3  3 decline to receive any property reported which the treasurer
  3  4 deems to have a value less than the cost of giving notice and
  3  5 holding sale, or the treasurer may, if the treasurer deems it
  3  6 desirable because of the small sum involved, postpone taking
  3  7 possession until a sufficient sum accumulates.  Unless the
  3  8 holder of the property is notified to the contrary within one
  3  9 hundred twenty days after filing the report required under
  3 10 section 556.11, the state treasurer shall be deemed to have
  3 11 elected to receive the custody of the property.  
  3 12 SF 375
  3 13 da/cc/26
     
Text: SF00374                           Text: SF00376
Text: SF00300 - SF00399                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index
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