§ 524.820 — Money received for transmission

Iowa § 524.820

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 524: BANKS

Text

1. A state bank shall have power to receive money for transmission. Upon receiving
money for transmission, a state bank shall give the customer a receipt setting forth the date
of receipt of the money, the amount of the money in dollars and cents, and if the money is
to be transmitted to a foreign country in the currency of such country, the amount of the
money in such currency.
2. In an action by a customer against a state bank for recovery of money delivered for
transmission,theburdenofproofofdeliveryofthemoneyinaccordancewiththeinstructions

of the customer shall be on the state bank but an affidavit by an agent or depository of the
state bank that the money was delivered in accordance with the instructions of the customer
and a receipt for the money signed in the name of the recipient designated by the customer
shall be prima facie evidence of the delivery of the money in accordance with the instructions
of the customer.

Legislative History

[C71, 73, 75, 77, 79, 81, §524.820]