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Current as of January 01, 2024 | Updated by Findlaw Staff
1. Property distributable in the course of demutualization or related reorganization of an insurance company occurring on or after January 1, 2003, that remains unclaimed is deemed abandoned two years after the earlier of:
a. The first date on which the property of an insurance company being demutualized or reorganized was distributable.
b. The date of last contact by the insurance company with a policyholder.
2. Property distributable in the course of demutualization or related reorganization of an insurance company occurring before January 1, 2003, that remains unclaimed is deemed abandoned two years after the first date on which the property of an insurance company being demutualized or reorganized was distributable.
Cite this article: FindLaw.com - Iowa Code Title XIV. Property [Chs. 555-594A] § 556.3A. Unclaimed demutualization proceeds held by insurance companies - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-xiv-property-chs-555-594a/ia-code-sect-556-3a/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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