556.7 Property held by fiduciaries. All intangible personal property and any income or increment thereon, held in a fiduciary capacity for the benefit of another person is presumed abandoned unless the owner has,within three years after it becomes payable or distributable, increased or decreased theprincipal, accepted payment of principal or income, corresponded in writing concerning theproperty, or otherwise indicated an interest as evidenced by a memorandum on file with thefiduciary which shall have been dated and may have been prepared by the fiduciary or bythe owner: 1. If the property is held by a banking organization or a financial organization, or by a business association organized under the laws of or created in this state; or 2. If it is held by a business association, doing business in this state, but not organized under the laws of or created in this state, and the records of the business association indicatethat the last known address of the person entitled thereto is in this state; or 3. If it is held in this state by any other person.[C71, 73, 75, 77, 79, 81, §556.7]84 Acts, ch 1295, §11; 91 Acts, ch 267, §629Referred to in §556.10 Sat Dec 23 11:04:24 2023 Iowa Code his state; or 3. If it is held in this state by any other person.[C71, 73, 75, 77, 79, 81, §556.7]84 Acts, ch 1295, §11; 91 Acts, ch 267, §629Referred to in §556.10 Sat Dec 23 11:04:24 2023 Iowa Code 2024, Section 556.7 (16, 0)
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