556.22 Elections by the treasurer of state. 1. The treasurer of state may elect to allow a holder to file a report as provided in section 556.11, or to deliver or pay property to the treasurer, before the property is presumedabandoned, upon consent of the treasurer and according to terms and conditions prescribedby the treasurer. 2. The treasurer of state, after receiving reports of property deemed abandoned pursuant to this chapter, may decline to receive any property reported which the treasurer deems tohave a value less than the cost of giving notice and holding sale, or the treasurer may, if thetreasurer deems it desirable because of the small sum involved, postpone taking possessionuntil a sufficient sum accumulates. Unless the holder of the property is notified to the contrarywithin one hundred twenty days after filing the report required under section 556.11, thetreasurer shall be deemed to have elected to receive the custody of the property. [C71, 73, 75, 77, 79, 81, §556.22]95 Acts, ch 34, §5 Sat Dec 23 11:04:33 2023 Iowa Code 2024, Section 556.22 (16, 0)
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