§ 556.1 Definitions and use of terms
§ 556.2 Property held by banking or financial organizations or by business associations
§ 556.2A Traveler’s checks and money orders
§ 556.2B Checks, drafts, and similar instruments issued or certified by banking and financial organizations
§ 556.2C Outstanding state warrants
§ 556.3 Unclaimed funds held by life insurance corporations
§ 556.3A Unclaimed demutualization proceeds held by insurance companies
§ 556.4 Deposits and refunds held by utilities
§ 556.5 Stocks and other intangible interests in business associations
§ 556.6 Property of business associations and banking or financial organizations held in course of dissolution
§ 556.7 Property held by fiduciaries
§ 556.8 Property held by state courts and public officers and agencies — abandonment
§ 556.9 Miscellaneous personal property held for another person — wages — gift certificates
§ 556.9A Out-of-state property issued within the state
§ 556.9B United States savings bonds — escheatment procedures
§ 556.10 Reciprocity for property presumed abandoned or escheated under the laws of another state
§ 556.11 Report of abandoned property
§ 556.12 Notice and publication of lists of abandoned property
§ 556.13 Payment or delivery of abandoned property
§ 556.14 Relief from liability by payment or delivery
§ 556.15 Income accruing after payment or delivery
§ 556.16 Periods of limitation not a bar
§ 556.17 Sale of abandoned property
§ 556.18 Deposit of funds
§ 556.19 Claim for abandoned property paid or delivered
§ 556.20 Determination of claims
§ 556.21 Judicial action upon determinations
§ 556.22 Elections by the treasurer of state
§ 556.23 Examination of records
§ 556.24 Proceeding to compel delivery of abandoned property
§ 556.24A Public records
§ 556.25 Interest and penalties
§ 556.26 Rules
§ 556.27 Effect of laws of other states
§ 556.28 Interstate agreements and cooperation
§ 556.29 Uniformity of interpretation
§ 556.30 Short title

Terms Used In Iowa Code > Chapter 556 - Disposition of Unclaimed Property

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Banking organization: means any bank, trust company, savings bank, savings association, industrial bank, land bank, safe deposit company, or a private banker engaged in business in this state. See Iowa Code 556.1
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Business association: means a corporation, cooperative association, joint stock company, business trust, investment company, partnership, limited liability company, trust company, mutual fund, or other business entity consisting of one or more persons, whether or not for profit. See Iowa Code 556.1
  • Contract: A legal written agreement that becomes binding when signed.
  • Cooperative association: means any of the following:
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiduciary: A trustee, executor, or administrator.
  • Financial organization: means any federally chartered savings and loan association, credit union, cooperative bank or investment company, engaged in business in this state. See Iowa Code 556.1
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Holder: means any person in possession of property subject to this chapter belonging to another, or who is trustee in case of a trust, or is indebted to another on an obligation subject to this chapter. See Iowa Code 556.1
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Internet: means the federated international system that is composed of allied electronic communication networks linked by telecommunication channels, that uses standardized protocols, and that facilitates electronic communication services, including but not limited to use of the world wide web; the transmission of electronic mail or messages; the transfer of files and data or other electronic information; and the transmission of voice, image, and video. See Iowa Code 4.1
  • Internet site: means a specific location on the internet that is determined by internet protocol numbers, by a domain name, or by both, including but not limited to domain names that use the designations ". See Iowa Code 4.1
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Life insurance corporation: means any association or corporation transacting within this state the business of insurance on the lives of persons or insurance appertaining thereto, including, but not by way of limitation, endowments and annuities. See Iowa Code 556.1
  • Mineral: means gas, oil, and coal; other gaseous, liquid, and solid hydrocarbons; oil shale; cement material; sand and gravel; road material; building stone; chemical raw material; gemstone; fissionable and nonfissionable ores; colloidal and other clays; steam and other geothermal resources; and any other substance defined as a mineral by a law of this state. See Iowa Code 556.1
  • Mineral proceeds: includes amounts payable as follows:
  • Money order: includes an express money order and a personal money order, on which the remitter is the purchaser. See Iowa Code 556.1
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Offer: means an inducement, solicitation, or attempt to encourage a person to acquire a membership camping contract. See Iowa Code 557B.1
  • Owner: means a depositor in case of a deposit, a beneficiary in case of a trust, a creditor, claimant, or payee in case of other choses in action, or any person having a legal or equitable interest in property subject to this chapter, or that person's legal representative. See Iowa Code 556.1
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means any individual, business association, government or political subdivision, public corporation, public authority, estate, trust, two or more persons having a joint or common interest, or any other legal or commercial entity. See Iowa Code 556.1
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Property: means a fixed and certain interest in or right in an intangible that is held, issued, or owed in the course of a holder's business, or by a government or governmental entity, and all income or increment therefrom, including that which is referred to as or evidenced by any of the following:
     (1) Money, check, draft, deposit, interest, dividend, and income. See Iowa Code 556.1
  • Purchaser: means a person who enters into a membership camping contract with a membership camping operator and obtains the right to use the campground owned or operated by the membership camping operator. See Iowa Code 557B.1
  • road: include public bridges, and may be held equivalent to the words "county way" "county road" "common road" and "state road". See Iowa Code 4.1
  • Rule: includes "regulation". See Iowa Code 4.1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • United States: includes all the states. See Iowa Code 4.1
  • Utility: means any person who owns or operates within this state, for public use, any plant, equipment, property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas. See Iowa Code 556.1
  • week: means seven consecutive days. See Iowa Code 4.1
  • year: means twelve consecutive months. See Iowa Code 4.1