Iowa Admin. Code r. 781-9.6 - Reporting and delivery of safe deposit box contents
(1) Safe deposit boxes or other safekeeping
depositories that have been abandoned shall be opened and inventoried in the
presence of at least two employees of the holder.
(2) The holder shall list the contents of
each box inventoried and provide that list to the division. The Safe Deposit
Box Inventory Form, or other form approved by the division, or any financial
institution's internal inventory form shall be used and provided to the
division.
(3) The property and a
copy of the inventory shall then be sealed and maintained in safekeeping until
delivered to the owner or to the division when required by the Act. The holder
may not convert the property to cash or reduce cash property to check; all
property is to be delivered in its original form and "as is" to the owner or,
if required, to the division.
(4)
Property transferred to the division shall be packaged in a reasonably
protective manner to prepare for transportation to the division. Property
should be delivered to the division via certified mail or insured courier. The
holder assumes all risk of loss pending receipt of the property by the
division. In the case of hazardous materials or weapons, including handguns,
holders shall contact the division and follow any special instructions for
handling such items.
This rule is intended to implement Iowa Code section 556.2.
Notes
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