Each claim submitted to the division is subject to the approval
process outlined below. Claims with a cash value of greater than $5,000 must
undergo electronic authentication or undergo such other or additional approval
process as may be determined by the division. The treasurer may enter into a
contract with a suitable third party that provides identity authentication.
Claims over a cash value of $5,000 must receive an additional level of approval
from a division manager.
(1) Cash
claims that pass electronic authentication will be considered approved. The
treasurer may implement a dollar threshold which would require a review by a
division staff person.
(2) Cash
claims not subject to the dollar limit threshold that do not pass electronic
authentication will be subject to one level of approval by division staff
authorized to approve claims at this level. If the claimant does not provide
adequate documentation, division staff will communicate with the claimant
explaining what documentation is missing. Level One approval shall then be
applied only if all required documentation is subsequently submitted by the
claimant.
(3) Cash claims subject to
the dollar limit threshold, claims involving the transfer of stock or mutual
fund share, or claims involving the delivery of safe deposit box contents will
be subject to two levels of approval by division staff authorized to approve
claims. If the claimant does not provide adequate documentation, division staff
will communicate with the claimant explaining what documentation is missing.
Level One approval shall then be applied only if all required documentation is
subsequently submitted by the claimant. Level Two approval shall be obtained
from the division staff person(s) designated to approve claims at this
level.
This rule is intended to implement Iowa Code section
556.19.
Notes
Iowa Admin. Code r. 781-9.34
Adopted by
IAB
November 9, 2016/Volume XXXIX, Number 10, effective
12/14/2016
Amended by
IAB
January 22, 2025/Volume XLVII, Number 15, effective
2/26/2025
