The state treasurer, after receiving reports of property deemed abandoned pursuant to this chapter, may decline to receive any property reported which the treasurer deems to have a value less than the cost of giving notice and holding sale, or the treasurer may, if the treasurer deems it desirable because of the small sum involved, postpone taking possession until a sufficient sum accumulates. Unless the holder of the property is notified to the contrary within one hundred twenty days after filing the report required under section 556.11, the state treasurer shall be deemed to have elected to receive the custody of the property.
[C71, 73, 75, 77, 79, 81, § 556.22]
Iowa General Assembly
Search: Iowa Code 1995
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