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Can you summarize IACO Chapter 556?
PROPERTY > DISPOSITION OF UNCLAIMED PROPERTY
Short Summary
This legal document, as defined in the Iowa Code, governs the disposition of unclaimed property. It provides definitions for various terms used in the chapter, including banking organizations, business associations, financial organizations, life insurance corporations, holders, minerals, mineral proceeds, money orders, owners, persons, and utilities. The document applies to banking organizations, business associations, financial organizations, life insurance corporations, holders, mineral owners, persons, and utilities. It does not mention any specific exemptions or penalties. The purpose of this document is to establish the legal framework for handling unclaimed property and to ensure that it is properly accounted for and returned to its rightful owners.
Whom does it apply to?
Banking organizations, business associations, financial organizations, life insurance corporations, holders, mineral owners, persons, and utilities
What does it govern?
The disposition of unclaimed property
What are exemptions?
No specific exemptions are mentioned
What are the Penalties?
No specific penalties are mentioned
Jurisdiction
Iowa