Bill Text: IA HF247 | 2023-2024 | 90th General Assembly | Enrolled
Bill Title: A bill for an act relating to communication methods regarding the disposition of unclaimed property and including applicability provisions. (Formerly HSB 33.) Effective date: 07/01/2023. Applicability date: 07/01/2023.
Spectrum: Committee Bill
Status: (Passed) 2023-06-01 - Signed by Governor. H.J. 1039. [HF247 Detail]
Download: Iowa-2023-HF247-Enrolled.html
House
File
247
-
Enrolled
House
File
247
AN
ACT
RELATING
TO
COMMUNICATION
METHODS
REGARDING
THE
DISPOSITION
OF
UNCLAIMED
PROPERTY
AND
INCLUDING
APPLICABILITY
PROVISIONS.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
556.1,
Code
2023,
is
amended
by
adding
the
following
new
subsection:
NEW
SUBSECTION
.
3A.
“Electronic
messaging”
means
communication
conducted
through
electronic
mail,
text
message,
or
other
electronic
means,
including
but
not
limited
to
an
online
banking
website
application.
Sec.
2.
Section
556.2,
subsection
5,
paragraphs
a
and
b,
Code
2023,
are
amended
to
read
as
follows:
a.
A
banking
organization
or
financial
organization
shall
send
to
the
owner
of
each
account,
to
which
none
of
the
actions
specified
in
subsection
1,
paragraphs
“a”
through
“e”
or
subsection
2,
paragraphs
“a”
through
“e”
have
occurred
during
the
preceding
three
calendar
years,
a
notice
by
certified
mail
or
through
electronic
messaging
stating
in
substance
the
following:
According
to
our
records,
we
have
had
no
contact
with
you
regarding
(describe
account)
for
more
than
three
years.
Under
Iowa
law,
if
there
is
a
period
of
three
years
without
contact,
we
may
be
required
to
transfer
this
account
to
the
custody
of
the
treasurer
of
state
of
Iowa
as
unclaimed
property.
You
may
prevent
this
by
taking
some
action,
such
as
a
deposit
or
withdrawal,
or
by
contacting
us
through
electronic
messaging,
House
File
247,
p.
2
which
indicates
your
interest
in
this
account
,
or
by
signing
this
form
and
returning
it
to
us.
I
desire
to
keep
the
above
account
open
and
active.
.........
Your
signature
b.
The
notice
required
under
this
section
shall
be
mailed
sent
within
thirty
days
of
the
lapse
of
the
three-year
period
in
which
there
is
no
activity.
The
cost
of
the
certified
mail
of
the
notice
required
in
this
section
may
be
deducted
from
the
account
by
the
banking
or
financial
organization.
Sec.
3.
APPLICABILITY.
This
Act
applies
to
electronic
messaging
sent
or
received
on
or
after
the
effective
date
of
this
Act.
______________________________
PAT
GRASSLEY
Speaker
of
the
House
______________________________
AMY
SINCLAIR
President
of
the
Senate
I
hereby
certify
that
this
bill
originated
in
the
House
and
is
known
as
House
File
247,
Ninetieth
General
Assembly.
______________________________
MEGHAN
NELSON
Chief
Clerk
of
the
House
Approved
_______________,
2023
______________________________
KIM
REYNOLDS
Governor
