2005 Idaho Code - 14-504 — TRAVELERS CHECKS AND MONEY ORDERS

                                  TITLE  14
                             ESTATES OF DECEDENTS
                                  CHAPTER 5
                            UNCLAIMED PROPERTY LAW
    14-504.  TRAVELERS CHECKS AND MONEY ORDERS. (1) Subject to subsection (4)
of this section, any sum payable on a travelers check that has been
outstanding for more than fifteen (15) years after its issuance is presumed
abandoned unless the owner, within fifteen (15) years, has communicated in
writing with the issuer concerning it or otherwise indicated an interest as
evidenced by a memorandum or other record on file prepared by an employee of
the issuer.
    (2)  Subject to subsection (4) of this section, any sum payable on a money
order or similar written instrument, other than a third-party bank check, that
has been outstanding for more than seven (7) years after its issuance is
presumed abandoned unless the owner, within seven (7) years, has communicated
in writing with the issuer concerning it or otherwise indicated an interest as
evidenced by a memorandum or other record on file prepared by an employee of
the issuer.
    (3)  A holder may not deduct from the amount of a travelers check or money
order 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 issuer and the owner of the instrument pursuant to which the issuer may
impose a charge and the issuer regularly imposes such charges and does not
regularly reverse or otherwise cancel them.
    (4)  No sum payable on a travelers check, money order, or similar written
instrument, other than a third-party bank check, described in subsections (1)
and (2) of this section may be subjected to the custody of this state as
unclaimed property unless:
    (a)  The records of the issuer show that the travelers check, money order,
    or similar written instrument was purchased in this state;
    (b)  The issuer has its principal place of business in this state and the
    records of the issuer do not show the state in which the travelers check,
    money order, or similar written instrument was purchased; or
    (c)  The issuer has its principal place of business in this state, the
    records of the issuer show the state in which the travelers check, money
    order, or similar written instrument was purchased and the laws of the
    state of purchase do not provide for the escheat or custodial taking of
    the property or its escheat or unclaimed property law is not applicable to
    the property.