Text: HF00720 Text: HF00722 Text: HF00700 - HF00799 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 556.1, subsection 9, Code 2001, is 1 2 amended by adding the following new unnumbered paragraphs: 1 3 NEW UNNUMBERED PARAGRAPH. "Property" does not include 1 4 credits, advance payments, overpayments, refunds, or credit 1 5 memoranda shown on the books and records of a business 1 6 association with respect to another business association 1 7 unless the balance is property described in section 556.2 held 1 8 by a banking organization or financial organization. 1 9 NEW UNNUMBERED PARAGRAPH. "Property" does not include gift 1 10 certificates, electronic gift cards, or unrefunded or 1 11 unclaimed layaway deposits. 1 12 EXPLANATION 1 13 This bill makes a change in the state's disposition of 1 14 unclaimed property law. The bill provides that under the 1 15 definition of "property" which is subject to the chapter, 1 16 "property" does not include credits, advance payments, 1 17 overpayments, refunds, or credit memoranda shown on the books 1 18 of a business association with respect to another business 1 19 association unless this type of property is held by a bank or 1 20 financial institution. In addition, "property" does not 1 21 include gift certificates, electronic gift cards, or 1 22 unrefunded or unclaimed layaway deposits. 1 23 LSB 1938HV 79 1 24 mg/cf/24
Text: HF00720 Text: HF00722 Text: HF00700 - HF00799 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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