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Can you summarize 781 IAAC 9.6?
UNCLAIMED PROPERTY > Reporting and delivery of safe deposit box contents.
Short Summary
This legal document, found in the Iowa Administrative Code under the Treasurer of State’s section on Unclaimed Property, governs the reporting and delivery of safe deposit box contents. It applies to holders of safe deposit boxes or other safekeeping depositories. According to the document, when a safe deposit box or depository is deemed abandoned, it must be opened and inventoried in the presence of at least two employees of the holder. The contents of each box must be listed and provided to the division responsible for unclaimed property. The property and a copy of the inventory are then sealed and maintained in safekeeping until delivered to the owner or the division as required. The property should be delivered in its original form and packaging, and the holder assumes the risk of loss until received by the division. Special instructions must be followed for handling hazardous materials or weapons. The document references Iowa Code section 556.2 as the basis for this rule.
Whom does it apply to?
Holders of safe deposit boxes or other safekeeping depositories
What does it govern?
Reporting and delivery of safe deposit box contents
What are exemptions?
No exemptions are mentioned
What are the Penalties?
No specific penalties are mentioned
Jurisdiction
Iowa