Iowa Administrative Code
Agency 781 - TREASURER OF STATE
Chapter 9 - UNCLAIMED PROPERTY
Rule 781-9.34 - Approval of claims
Current through Register Vol. 46, No. 19, March 20, 2024
Each claim submitted to the division is subject to the approval process outlined below. Claims over a cash value of $5,000 must be authenticated either electronically or through 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.
