74.6 - NOTICE OF CALL -- TERMINATION OF INTEREST.
74.6 NOTICE OF CALL -- TERMINATION OF INTEREST.
1. The treasurer shall make a call for payment under section 74.5
by mailing to the holder of the obligation, as shown in the records
maintained under section 74.3 or 331.554, subsection 5, paragraph
"b" as applicable, a notice of call which describes the
obligation by number and amount, and which specifies a date not more
than ten days thereafter when interest ceases to accrue on the
obligation. The treasurer shall enter the date of mailing of the
notice in the records maintained under section 74.3 or 331.554,
subsection 5, paragraph "b" as applicable.
2. Interest on an interest-bearing obligation shall cease to
accrue as of the date specified in the notice of call issued under
subsection 1.
3. This section does not apply if the parties have otherwise
agreed in writing. Section History: Early Form
[C51, § 66, 153; R60, § 87, 361; C73, § 79, 328; C97, § 105, 484,
660; C24, 27, 31, § 136, 5161, 5647, 7496, 7498; C35, § 1171-f6; C39,
§ 1171.16; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §
74.6; 82 Acts, ch 1048, § 3]
Referred to in § 331.554