Senate Amendment 5221


PAG LIN




     1  1    Amend Senate File 2372 as follows:
     1  2 #1.  Page 1, by striking line 1 and inserting the
     1  3 following:
     1  4    <Section 1.  NEW SECTION.  555D.1  LEGISLATIVE
     1  5 INTENT == DEFINITION.
     1  6    0A.  It is the intent of the general assembly to
     1  7 provide for and facilitate consumer protection,
     1  8 convenience, and customer service in connection with
     1  9 the issuance and redemption of gift certificates, and
     1 10 in connection therewith preserve the status of
     1 11 unclaimed gift certificates as redeemable by a holder
     1 12 or owner at a future unspecified date.>
     1 13 #2.  Page 2, by inserting after line 28 the
     1 14 following:
     1 15    <Sec.    .  NEW SECTION.  555D.4  GIFT CERTIFICATES
     1 16 == UNCLAIMED PROPERTY PROHIBITION.
     1 17    A gift certificate which has remained unclaimed by
     1 18 the owner of the gift certificate for more than three
     1 19 years after issuance shall not be presumed abandoned,
     1 20 but shall remain on file indefinitely with the seller
     1 21 or issuer of the gift certificate and redeemable for
     1 22 full value if presented by the owner or holder at a
     1 23 future date.>
     1 24 #3.  By striking page 2, line 29, through page 3,
     1 25 line 12.
     1 26 #4.  Page 3, by inserting before line 13 the
     1 27 following:
     1 28    <Sec.    .  Section 556.1, subsection 12, paragraph
     1 29 b, Code Supplement 2007, is amended to read as
     1 30 follows:
     1 31    b.  Credit balance, customer overpayment, gift
     1 32 certificate, security deposit, refund, credit
     1 33 memorandum, unpaid wage, unused airline ticket, unused
     1 34 ticket, mineral proceeds, and unidentified remittance
     1 35 and electronic fund transfer.>
     1 36 #5.  Title page, line 3, by inserting after the
     1 37 word <dates,> the following:  <prohibiting disposition
     1 38 as unclaimed property,>.
     1 39 #6.  By renumbering, redesignating, and correcting
     1 40 internal references as necessary.
     1 41
     1 42
     1 43                               
     1 44 STEVE KETTERING
     1 45 JERRY BEHN
     1 46 SF 2372.201 82
     1 47 rn/nh/20592
   1 48
   1 49
   1 50

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