HF 247: Relating to communication methods regarding the disposition of unclaimed property and including applicability provisions

What it does

This bill relates to electronic communication regarding property that is assumed to be abandoned for purposes of property held by a bank, financial institution, or business association. The bill defines “electronic messaging” to mean electronic mail, text messaging, or other electronic means of communication, including an online banking website application. The bill provides that methods of communication between an owner of specified forms of property and a banking or financial organization or by a business association that can, if certain circumstances are met, prevent the property from being considered abandoned include electronic messaging along with correspondence in writing. The bill applies to electronic messaging sent or received on or after the effective date of the bill.

Lobbying · 1 for, 0 against

For: Iowa Bankers Association

In plain words

1. February 9, 2023Filed in the House
2. March 6, 2023Passed the House, 92–0
3. March 6, 2023Arrived in the Senate
4. May 2, 2023Took the place of SF 422 on the Senate floor (the same legislation)
5. May 2, 2023Passed the Senate, 48–0
6. May 9, 2023Sent to the Governor
7. June 1, 2023Signed into law