Title XIV, PROPERTY (Ch. 555 - 594A)

1. Except for property held in a safe deposit box or other safekeeping depository, upon filing the report required by section 556.11 , the holder of property presumed abandoned shall pay, deliver, or cause to be paid or delivered to the administrator the property described in the…

1. Upon the payment or delivery of property to the treasurer of state, the state assumes custody and responsibility for the safekeeping of the property. A person who pays or delivers property to the treasurer of state in good faith is relieved of all liability to the extent of th…

When property other than money is paid or delivered to the treasurer of state under this chapter , the owner is entitled to receive from the treasurer of state any dividends, interest, or other increments realized or accruing on the property at or before liquidation or conversion…

The expiration of any period of time specified by statute or court order, during which an action or proceeding may be commenced or enforced to obtain payment of a claim for money or recovery of property, shall not prevent the money or property from being presumed abandoned proper…

1. All abandoned property other than money delivered to the treasurer of state under this chapter which remains unclaimed one year after the delivery to the treasurer may be sold to the highest bidder in a manner that affords in the treasurer’s judgment the most favorable market …

1. Except as provided in subsection 3 , all funds received under this chapter , including the proceeds from the sale of abandoned property under section 556.17 , shall be deposited quarterly by the treasurer of state in the general fund of the state. However, the treasurer of sta…

1. Any person claiming an interest in any property delivered to the state under this chapter may file a claim thereto or to the proceeds from the sale thereof on the form prescribed by the state treasurer. 2. Notwithstanding subsection 1 , the treasurer of state may waive the req…

The following property held or owing by a banking or financial organization or by a business association is presumed abandoned: 1. Any demand, savings, or matured time deposit made in this state with a banking organization, together with any interest or dividend, excluding any ch…

1. The treasurer of state shall consider any claim filed under this chapter and may hold a hearing and receive evidence concerning the claim. If a hearing is held, the treasurer shall prepare a finding and a decision in writing on each claim filed, stating the substance of any ev…

Any person aggrieved by a decision of the state treasurer or as to whose claim the treasurer has failed to act within ninety days after the filing of the claim, may commence an action in the district court to establish that person’s claim. The proceeding shall be brought within n…

1. The treasurer of state may elect to allow a holder to file a report as provided in section 556.11 , or to deliver or pay property to the treasurer, before the property is presumed abandoned, upon consent of the treasurer and according to terms and conditions prescribed by the …

The treasurer of state may at reasonable times and upon reasonable notice examine the records of any person if the treasurer of state has reason to believe that the person has failed to report property that should have been reported pursuant to this chapter . If an examination of…

If any person refuses to deliver property to the state treasurer as required under this chapter , the treasurer shall bring an action in a court of appropriate jurisdiction to enforce such delivery. [C71, 73, 75, 77, 79, 81, §556.24 ]

1. The treasurer of state shall maintain a public record of the name and last known address of each person appearing to be entitled to unclaimed or abandoned property paid or delivered to the treasurer pursuant to this chapter . 2. Notwithstanding any other provision of law, any …

1. A person who fails to pay or deliver property within the time prescribed by this chapter shall pay the treasurer of state interest at the annual rate of ten percent on the property or value of the property from the date the property should have been paid or delivered but in no…

The state treasurer is hereby authorized to make necessary rules to carry out the provisions of this chapter . [C71, 73, 75, 77, 79, 81, §556.26 ]

This chapter shall not apply to any property that has been presumed abandoned or escheated under the laws of another state prior to July 1, 1967. [C71, 73, 75, 77, 79, 81, §556.27 ]

1. The treasurer of state may enter into agreements with other states to exchange information needed to enable this or another state to audit or otherwise determine unclaimed property that it or another state may be entitled to subject to a claim of custody. The treasurer of stat…

This chapter shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it. [C71, 73, 75, 77, 79, 81, §556.28 ] C85, §556.29

1. Subject to subsection 4 , any sum payable on a traveler’s check that has been outstanding for more than fifteen years after its issuance is deemed abandoned unless the owner, within fifteen years, has communicated in writing with the issuer concerning it or otherwise indicated…

1. Any sum payable on a check, draft, or similar instrument, except those subject to section 556.2A , on which a banking or financial organization is directly liable, including a cashier’s check and a certified check, which has been outstanding for more than three years after it …

1. a. An unpaid, outdated warrant that is canceled pursuant to section 8A.519 shall be included in a list of outstanding state warrants maintained by the director of the department of administrative services. On or before July 1 of each year, the director of the department of adm…

1. Unclaimed funds, as defined in this section , held and owing by a life insurance corporation shall be presumed abandoned if the last known address, according to the records of the corporation, of the person entitled to the funds is within this state. If a person other than the…

This chapter may be cited as the “Uniform Disposition of Unclaimed Property Act” . [C71, 73, 75, 77, 79, 81, §556.29 ] C85, §556.30

1. Property distributable in the course of demutualization or related reorganization of an insurance company occurring on or after January 1, 2003, that remains unclaimed is deemed abandoned two years after the earlier of: a. The first date on which the property of an insurance c…

The following funds held or owing by any utility are presumed abandoned: 1. Any deposit made by a subscriber with a utility to secure payment for, or any sum paid in advance for, utility services to be furnished in this state, less any lawful deductions, that has remained unclaim…

1. Any stock, shareholding, or other intangible ownership interests in a business association, the existence of which is evidenced by records available to the association, is deemed abandoned and, with respect to the interest, the association is the holder, if both of the followi…

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 t…

All intangible personal property and any income or increment thereon, held in a fiduciary capacity for the benefit of another person is presumed abandoned unless the owner has, within three years after it becomes payable or distributable, increased or decreased the principal, acc…

All intangible personal property held for the owner by any court, public corporation, public authority, agency, instrumentality, employee, or public officer of this state, or the United States, or a political subdivision of the state, another state, or the United States, that has…

1. a. All intangible personal property, not otherwise covered by this chapter , including any income or increment earned on the property and deducting any lawful charges, that is held or owing in this state in the ordinary course of the holder’s business and has remained unclaime…

1. As used in this section , unless the context requires otherwise: a. “Property” means intangible personal property located outside the state, but issued by the state of Iowa, a state agency, a political subdivision of the state, or a person formed or otherwise located within th…

1. Notwithstanding any provision of this chapter to the contrary, the escheat of United States savings bonds and proceeds from such bonds to the state shall be governed by this section . 2. United States savings bonds held or owing in this state by any person, or issued or owed i…