Iowa § 556.9 Miscellaneous personal property held for another person — wages — gift certificates

Iowa Statutes

§ 556.9 — Miscellaneous personal property held for another person — wages — gift certificates

Iowa § 556.9

Title XIVPROPERTY

Ch. 556DISPOSITION OF UNCLAIMED PROPERTY

This text of Iowa § 556.9 (Miscellaneous personal property held for another person — wages — gift certificates) 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 § 556.9 (2026).

Text

certificates.

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 unclaimed by the owner for more than three years after it became payable or distributable is presumed abandoned.

b.Unpaid wages, including wages represented by payroll checks or other compensation for personal services owing in the ordinary course of the holder’s business that remain unclaimed by the owner for more than one year after becoming payable are presumed abandoned.

c.Except as provided in subsection 2, funds represented by a gift certificate balance that has not been presented within five years fro

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certificates.
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
unclaimed by the owner for more than three years after it became payable or distributable is
presumed abandoned.
b. Unpaid wages, including wages represented by payroll checks or other compensation
for personal services owing in the ordinary course of the holder’s business that remain
unclaimed by the owner for more than one year after becoming payable are presumed
abandoned.
c. Except as provided in subsection 2, funds represented by a gift certificate balance that
has not been presented within five years from the date of issuance of the gift certificate are
presumed abandoned.
2. a. Anissuerofagiftcertificateshallnotdeductfromthefacevalueofthegiftcertificate
any charge imposed due to the failure of the owner of the gift certificate to present the gift
certificate in a timely manner, unless a valid and enforceable written contract exists between
the issuer and the owner of the gift certificate pursuant to which the issuer regularly imposes
such charges and does not regularly reverse or otherwise cancel them.
9 DISPOSITION OF UNCLAIMED PROPERTY, §556.9B
b. Notwithstanding the time limitation in subsection 1, a gift certificate redeemable for
merchandiseonlythatisnotsubjecttoanexpirationdateandthatisnotsubjecttoadeduction
from the face value of the gift certificate for failure of the owner of the gift certificate to
present the gift certificate in a timely manner, or subject to any other charge or service fee,
which card remains unpresented, shall continue in force and be eligible for presentation for
an indefinite period of time, and shall not be subject to a presumption of abandonment.
c. For purposes of this section, “gift certificate” means a merchandise certificate or
electronic gift card conspicuously designated as a gift certificate or electronic gift card, and
generally purchased by a buyer for use by a person other than the buyer.