§ 556.20

556.20 Determination of claims. 1. The treasurer of state shall consider any claim filed under this chapter and may hold a hearing and receive evidence concerning the claim. If a hearing is held, the treasurer shallprepare a finding and a decision in writing on each claim filed, stating the substance of anyevidence heard by the treasurer and the reasons for the treasurer’s decision. The decisionshall be a public record. 2. If the claim is allowed, the treasurer of state shall make payment forthwith. The claim shall be paid without deduction for costs of notices or sale or for service charges. Thetreasurer or an employee thereof shall not be held liable in any action for any claim paid ingood faith pursuant to this section. However, a claimant, attorney in fact, or attorney or anyother person representing a claimant to whom such payment is made may be held liable to aperson who proves a superior right to the payment. 3. As a condition precedent to payment of any claim filed under this chapter, the treasurer of state may require that the claimant or owner of the unclaimed or abandoned propertyfurnish the treasurer with a surety bond containing terms and provisions acceptable to

his chapter, the treasurer of state may require that the claimant or owner of the unclaimed or abandoned propertyfurnish the treasurer with a surety bond containing terms and provisions acceptable to thetreasurer and issued by a corporate surety authorized to do business in this state or withsuch other form of indemnification and protection that is determined by the treasurer to beacceptable and sufficient to protect the treasurer and the state against any loss, liability, ordamage which may arise out of or result from the payment of the claim by the treasurer.The claimant or owner shall be responsible for all premiums, costs, fees, or other expensesassociated with any such surety bond or other form of indemnification and protectionrequired pursuant to this subsection. [C71, 73, 75, 77, 79, 81, §556.20]83 Acts, ch 191, §15, 27; 84 Acts, ch 1295, §21; 2007 Acts, ch 37, §5Referred to in §499.30A, 501A.1008, 524.1305, 524.1310, 556.9B, 556.18, 642.2 Sat Dec 23 11:04:33 2023 Iowa Code 2024, Section 556.20 (16, 0)