Iowa § 556.2B Checks, drafts, and similar instruments issued or certified by banking and financial organizations

Iowa Statutes

§ 556.2B — Checks, drafts, and similar instruments issued or certified by banking and financial organizations

Iowa § 556.2B

Title XIVPROPERTY

Ch. 556DISPOSITION OF UNCLAIMED PROPERTY

This text of Iowa § 556.2B (Checks, drafts, and similar instruments issued or certified by banking and financial organizations) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 556.2B (2026).

Text

financial organizations.

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 was payable or after its issuance if payable on demand, is deemed abandoned, unless the owner, within three years, has communicated in writing with the banking or financial organizationconcerningitorotherwiseindicatedaninterestasevidencedbyamemorandum or other record on file prepared by an employee of the banking or financial organization.

2.A holder shall not deduct from the amount of any instrument subject to this section any charge imposed by reason of the failure to present the instrume

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financial organizations.
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 was payable or after its issuance if payable on demand, is deemed abandoned, unless
the owner, within three years, has communicated in writing with the banking or financial
organizationconcerningitorotherwiseindicatedaninterestasevidencedbyamemorandum
or other record on file prepared by an employee of the banking or financial organization.
2. A holder shall not deduct from the amount of any instrument subject to this section any
charge imposed by reason of the failure to present the instrument for payment unless there is
a valid and enforceable written contract between the holder and the owner of the instrument
pursuant to which the holder may impose a charge and the holder regularly imposes such
charges and does not regularly reverse or otherwise cancel them.