781—9.11(556) Reporting of retained asset accounts.

Funds held in a retained asset account maintained by a life insurance company on behalf of a beneficiary shall be reported and delivered to the division if the beneficiary has failed to take such actions demonstrating an indication of interest in the account for a period of three years.

This rule is intended to implement Iowa Code section 556.9.

[ARC 2809C, IAB 11/9/16, effective 12/14/16]