74.6 Notice of call — termination of interest.
1. The treasurer shall make a call for payment under section 74.5 by mailing to the holder of the obligation, as shown in the records maintained under section 74.3 or 331.554, subsection 5, paragraph “b” as applicable, a notice of call which describes the obligation by number and amount, and which specifies a date not more than ten days thereafter when interest ceases to accrue on the obligation. The treasurer shall enter the date of mailing of the notice in the records maintained under section 74.3 or 331.554, subsection 5, paragraph “b” as applicable.
2. Interest on an interest-bearing obligation shall cease to accrue as of the date specified in the notice of call issued under subsection 1.
3. This section does not apply if the parties have otherwise agreed in writing.
[C51, §66, 153; R60, §87, 361; C73, §79, 328; C97, §105, 484, 660; C24, 27, 31, §136, 5161, 5647, 7496, 7498; C35, §1171-f6; C39, §1171.16; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §74.6; 82 Acts, ch 1048, §3]
Referred to in §331.554
Structure Iowa Code
Title II - ELECTIONS AND OFFICIAL DUTIES
Chapter 74 - PUBLIC OBLIGATIONS NOT PAID FOR WANT OF FUNDS
Section 74.2 - Endorsement and interest.
Section 74.3 - Record of obligations.
Section 74.4 - Assignment of obligation.
Section 74.5 - Call for payment.
Section 74.6 - Notice of call — termination of interest.
Section 74.7 - Endorsement of interest.