§ 556.18

556.18 Deposit of funds. 1. Except as provided in subsection 3, all funds received under this chapter, including the proceeds from the sale of abandoned property under section 556.17, shall be depositedquarterly by the treasurer of state in the general fund of the state. However, the treasurer ofstate shall retain in a separate trust fund a sufficient amount from which the treasurer of stateshall make prompt payment of claims duly allowed under section 556.20. Before making thedeposit, the treasurer of state shall record the name and last known address of each personappearing from the holders’ reports to be entitled to the abandoned property and the nameand last known address of each insured person or annuitant, and with respect to each policyor contract listed in the report of a life insurance corporation, its number, the name of thecorporation, and the amount due. The record shall be available for public inspection at allreasonable business hours. 2. Before making any deposit to the credit of the general funds, the state treasurer may deduct: a. Any costs in connection with sale of abandoned property.b.

pection at allreasonable business hours. 2. Before making any deposit to the credit of the general funds, the state treasurer may deduct: a. Any costs in connection with sale of abandoned property.b. Any costs of mailing and publication in connection with any abandoned property.c. Reasonable service charges.d. Any costs in connection with information on outstanding state warrants addressed pursuant to section 556.2C. 3. The treasurer of state shall annually credit all moneys received under section 556.4 to the general fund of the state. Moneys credited to the general fund of the state pursuant tothis subsection are subject to the requirements of subsections 1 and 2 and section 8.60. [C71, 73, 75, 77, 79, 81, §556.18]83 Acts, ch 191, §13, 14, 27; 84 Acts, ch 1295, §20; 88 Acts, ch 1175, §4; 89 Acts, ch 287, §6; 91 Acts, ch 253, §24; 91 Acts, ch 260, §1248; 93 Acts, ch 131, §26, 27; 94 Acts, ch 1107, §96,97, 100; 94 Acts, ch 1188, §38; 2006 Acts, ch 1185, §103 Referred to in §524.1305, 524.1310, 556.9B, 556.17 Sat Dec 23 11:04:32 2023 Iowa Code 2024, Section 556.18 (17, 0)