556.6  Property of business associations and banking or financial organizations held in course of dissolution.

Except as provided in section 490.1440, all intangible personal property distributable in the course of a voluntary dissolution of a business association, banking organization, or financial organization organized under the laws of or created in this state, that is unclaimed by the owner within one year after the date for final distribution, is presumed abandoned.

Section History: Early form

  [C71, 73, 75, 77, 79, 81, § 556.6]

Section History: Recent form

  84 Acts, ch 1295, § 10; 90 Acts, ch 1205, § 59

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