Iowa Code 35D.12 – Bank account for members’ deposits
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1. a. The Iowa veterans home, for the convenience of its members, may maintain a commercial account with a federally insured bank for the individual personal deposits of its members. The account shall be known as the Iowa veterans home membership account. The commandant shall record each member‘s personal deposits individually and shall deposit the funds in the membership account, where the members’ deposits shall be held in the aggregate.
b. The Iowa veterans home may withdraw moneys from the account maintained pursuant to this subsection to establish certificates of deposit for the benefit of all members. The commission shall adopt rules pursuant to chapter 17A for the administration of this paragraph.
Terms Used In Iowa Code 35D.12
- Commandant: means the commandant of the Iowa veterans home appointed pursuant to section 35D. See Iowa Code 35D.1
- Commission: means the commission of veterans affairs established in section 35A. See Iowa Code 35D.1
- Member: means a patient or resident of the home. See Iowa Code 35D.1
2. The commandant, if authorized by a member of the home, and pursuant to policies adopted by the commission, may make withdrawals against that member’s personal account to pay regular bills and other expenses incurred by the member. The authorization may be given by the member at any time and shall not be a condition of admission to the home.