§ 556.22 — Elections by the treasurer of state

Iowa § 556.22

• Jurisdiction: Iowa
• Title XIV: PROPERTY
• Ch. 556: DISPOSITION OF UNCLAIMED PROPERTY

Text

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 treasurer.
2. The treasurer of state, after receiving reports of property deemed abandoned pursuant
to this chapter, may decline to receive any property reported which the treasurer deems to
have a value less than the cost of giving notice and holding sale, or the treasurer may, if the
treasurer deems it desirable because of the small sum involved, postpone taking possession
untilasufficientsumaccumulates. Unlesstheholderofthepropertyisnotifiedtothecontrary
within one hundred twenty days after filing the report required under section 556.11, the
treasurer shall be deemed to have elected to receive the custody of the property.

Legislative History

[C71, 73, 75, 77, 79, 81, §556.22]