Text: HF02556 Text: HF02558 Text: HF02500 - HF02599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 HOUSE FILE 2557
1 2
1 3 AN ACT
1 4 RELATING TO THE STATE'S DISPOSITION OF UNCLAIMED PROPERTY LAW
1 5 BY SETTING A LIMIT ON THE RETENTION OF ABANDONED PROPERTY
1 6 RECORDS AND REQUIRING THE FILING OF RULES SETTING REQUIRE-
1 7 MENTS AND CONDITIONS FOR HIRING INDEPENDENT AUDITORS.
1 8
1 9 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 10
1 11 Section 1. Section 556.11, Code 1999, is amended by adding
1 12 the following new subsection:
1 13 NEW SUBSECTION. 8. a. A holder required to file a report
1 14 under this section shall maintain its records containing the
1 15 information required to be included in the report until the
1 16 holder files the report and for four years after the date of
1 17 filing, unless a shorter time is provided in paragraph "b" or
1 18 by rule of the treasurer of state.
1 19 b. A business association that sells, issues, or provides
1 20 to others for sale or issue in this state, travelers checks,
1 21 money orders, or similar written instruments other than third-
1 22 party bank checks, on which the business association is
1 23 directly liable, shall maintain a record of the instruments
1 24 while they remain outstanding, indicating the state and date
1 25 of issue, for four years after the date of filing.
1 26 Sec. 2. The treasurer of state shall give notice of
1 27 intended action, as required in section 17A.4, by December 31,
1 28 2000, to adopt rules providing for the conditions and
1 29 requirements for entering into a contract with an independent
1 30 auditor to conduct the examination allowed under section
1 31 556.23 on behalf of the treasurer. The proposed rules shall,
1 32 at a minimum, contain the procedures and conduct of the
1 33 independent auditor in making the examination, the method for
1 34 payment, the requirement for confidentiality, procedures for
1 35 appeals by the person whose records are examined, and conflict
2 1 of issue provisions.
2 2
2 3
2 4
2 5 BRENT SIEGRIST
2 6 Speaker of the House
2 7
2 8
2 9
2 10 MARY E. KRAMER
2 11 President of the Senate
2 12
2 13 I hereby certify that this bill originated in the House and
2 14 is known as House File 2557, Seventy-eighth General Assembly.
2 15
2 16
2 17
2 18 ELIZABETH ISAACSON
2 19 Chief Clerk of the House
2 20 Approved , 2000
2 21
2 22
2 23
2 24 THOMAS J. VILSACK
2 25 Governor
Text: HF02556 Text: HF02558 Text: HF02500 - HF02599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
© 2000 Cornell College and League of Women Voters of Iowa
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