556.12  Notice and publication of lists of abandoned property.

1.  If a report has been filed with the treasurer of state, or property has been paid or delivered to the treasurer of state, for the fiscal year ending on June 30 as required by section 556.11, the treasurer of state shall provide for the publication annually of at least one notice not later than the following November 30. Each notice shall be published at least once each week for two successive weeks in an English language newspaper of general circulation in the county in this state in which is located the last known address of any person to be named in the notice. If an address is not listed or if the address is outside this state, the notice shall be published in the county in which the holder of the abandoned property has its principal place of business within this state.

2.  The published notice shall contain:

a.  The names in alphabetical order and last known addresses, if any, of persons listed in the report and entitled to notice within the county as hereinbefore specified.

b.  A statement that information concerning the amount or description of the property and the name and address of the holder may be obtained by any persons possessing an interest in the property by addressing an inquiry to the state treasurer.

c.  A statement that if proof of claim is not presented by the owner to the holder and if the owner's right to receive the property is not established to the holder's satisfaction within sixty-five days from the date of the second published notice, the abandoned property will be placed not later than eighty-five days after such publication date in the custody of the state treasurer to whom all further claims must thereafter be directed.

3.  The state treasurer is not required to publish in such notice any item of less than twenty-five dollars unless the treasurer deems such publication to be in the public interest.

4.  Within one hundred twenty days from the receipt of the report required by section 556.11, the state treasurer shall mail a notice to each person having an address listed therein who appears to be entitled to property of the value of twenty-five dollars or more presumed abandoned under this chapter.

5.  The mailed notice shall contain:

a.  A statement that, according to a report filed with the state treasurer, property is being held to which the addressee appears entitled.

b.  The name and address of the person holding the property and any necessary information regarding changes of name and address of the holder.

c.  A statement that, if satisfactory proof of claim is not presented by the owner to the holder by the date specified in the published notice, the property will be placed in the custody of the state treasurer to whom all further claims must be directed.

6.  This section is not applicable to sums payable on traveler's checks or money orders presumed abandoned under section 556.2.

Section History: Early form

  [C71, 73, 75, 77, 79, 81, § 556.12]

Section History: Recent form

  84 Acts, ch 1295, § 15; 95 Acts, ch 34, §4

Internal References

  Referred to in § 25.2, 216A.102

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