2009 Iowa Code
Title 14 - Property
Subtitle 1 - Personal Property
CHAPTER 556 - DISPOSITION OF UNCLAIMED PROPERTY
556.20 - DETERMINATION OF CLAIMS.

        556.20  DETERMINATION OF CLAIMS.
         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 evidence heard by the treasurer and the reasons for
      the treasurer's decision.  The decision shall be a public record.
         2.  If the claim is allowed, the treasurer of state shall make
      payment forthwith.  The claim shall be paid without deduction for
      costs of notices or sale or for service charges.  The treasurer or an
      employee thereof shall not be held liable in any action for any claim
      paid in good faith pursuant to this section.  However, a claimant,
      attorney in fact, or attorney or any other person representing a
      claimant to whom such payment is made may be held liable to a person
      who proves a superior right to the payment.
         3.  As a condition precedent to payment of any claim filed under
      this chapter, the treasurer of state may require that the claimant or
      owner of the unclaimed or abandoned property furnish the treasurer
      with a surety bond containing terms and provisions acceptable to the
      treasurer and issued by a corporate surety authorized to do business
      in this state or with such other form of indemnification and
      protection that is determined by the treasurer to be acceptable and
      sufficient to protect the treasurer and the state against any loss,
      liability, or damage which may arise out of or result from the
      payment of the claim by the treasurer.  The claimant or owner shall
      be responsible for all premiums, costs, fees, or other expenses
      associated with any such surety bond or other form of indemnification
      and protection required pursuant to this subsection.  
         Section History: Early Form
         [C71, 73, 75, 77, 79, 81, § 556.20] 
         Section History: Recent Form
         83 Acts, ch 191, § 15, 27; 84 Acts, ch 1295, § 21; 2007 Acts, ch
      37, §5
         Referred to in § 499.30A, 501A.1008, 524.1305, 524.1310, 556.18,
      642.2

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