Iowa Code
Chapter 556 - DISPOSITION OF UNCLAIMED PROPERTY
Section 556.2A - Traveler’s checks and money orders.

556.2A Traveler’s checks and money orders.
1. Subject to subsection 4, any sum payable on a traveler’s check that has been outstanding for more than fifteen years after its issuance is deemed abandoned unless the owner, within fifteen 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, any sum payable on a money order that has been outstanding for more than seven years after its issuance is deemed abandoned unless the owner, within seven 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 shall not deduct from the amount of a traveler’s 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. A sum payable on a traveler’s check or money order described in subsection 1 or 2 shall not be subjected to the custody of this state as unclaimed property unless any of the following apply:
a. The records of the issuer show that the traveler’s check or money order 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 traveler’s check or money order was purchased.
c. The issuer has its principal place of business in this state, the records of the issuer show the state in which the traveler’s check or money order 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.
96 Acts, ch 1173, §4
Referred to in §556.2B

Structure Iowa Code

Iowa Code

Title XIV - PROPERTY

Chapter 556 - DISPOSITION OF UNCLAIMED PROPERTY

Section 556.1 - Definitions and use of terms.

Section 556.2 - Property held by banking or financial organizations or by business associations.

Section 556.2A - Traveler’s checks and money orders.

Section 556.2B - Checks, drafts, and similar instruments issued or certified by banking and financial organizations.

Section 556.2C - Outstanding state warrants.

Section 556.3 - Unclaimed funds held by life insurance corporations.

Section 556.3A - Unclaimed demutualization proceeds held by insurance companies.

Section 556.4 - Deposits and refunds held by utilities.

Section 556.5 - Stocks and other intangible interests in business associations.

Section 556.6 - Property of business associations and banking or financial organizations held in course of dissolution.

Section 556.7 - Property held by fiduciaries.

Section 556.8 - Property held by state courts and public officers and agencies — abandonment.

Section 556.9 - Miscellaneous personal property held for another person — wages — gift certificates.

Section 556.9A - Out-of-state property issued within the state.

Section 556.9B - United States savings bonds — escheatment procedures.

Section 556.10 - Reciprocity for property presumed abandoned or escheated under the laws of another state.

Section 556.11 - Report of abandoned property.

Section 556.12 - Notice and publication of lists of abandoned property.

Section 556.13 - Payment or delivery of abandoned property.

Section 556.14 - Relief from liability by payment or delivery.

Section 556.15 - Income accruing after payment or delivery.

Section 556.16 - Periods of limitation not a bar.

Section 556.17 - Sale of abandoned property.

Section 556.18 - Deposit of funds.

Section 556.19 - Claim for abandoned property paid or delivered.

Section 556.20 - Determination of claims.

Section 556.21 - Judicial action upon determinations.

Section 556.22 - Elections by the treasurer of state.

Section 556.23 - Examination of records.

Section 556.24 - Proceeding to compel delivery of abandoned property.

Section 556.24A - Public records.

Section 556.25 - Interest and penalties.

Section 556.26 - Rules.

Section 556.27 - Effect of laws of other states.

Section 556.28 - Interstate agreements and cooperation.

Section 556.29 - Uniformity of interpretation.

Section 556.30 - Short title.