Iowa General Assembly Banner

 
Text: HF02433                           Text: HF02435
Text: HF02400 - HF02499                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index


Get Version To Print

House File 2434

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 527.5, subsection 2, paragraph d, Code
  1  2 Supplement 1995, is amended to read as follows:
  1  3    d.  Paragraph "a" applies to a financial institution whose
  1  4 licensed or principal place of business is located in a state
  1  5 other than Iowa, whether or not the financial institution has
  1  6 a business location in this state, if all satellite terminals
  1  7 or other similar type terminals owned, controlled, operated,
  1  8 or maintained by the financial institution, wherever located,
  1  9 are available on a reciprocal basis to any each financial
  1 10 institution whose licensed or with a principal place of
  1 11 business is located in this state and to each financial
  1 12 institution with a business location in this state which
  1 13 complies with this paragraph, and to all customers who have
  1 14 been designated by a any such financial institution using the
  1 15 satellite terminal and who have been provided with an access
  1 16 device.
  1 17    Sec. 2.  Section 527.5, subsection 8, Code Supplement 1995,
  1 18 is amended by striking the subsection.  
  1 19                           EXPLANATION
  1 20    This bill amends section 527.5, relating to the
  1 21 requirements for satellite terminals.  The bill provides that
  1 22 a satellite terminal must be available for use on a
  1 23 nondiscriminatory basis by any financial institution whose
  1 24 licensed or principal place of business is located in another
  1 25 state, but which has a business location within this state.
  1 26 Such availability is premised on the fact that the other
  1 27 financial institution's satellite terminals owned, controlled,
  1 28 operated, or maintained by the financial institution are
  1 29 available on a reciprocal basis.
  1 30    The bill also strikes the prohibition on the operation of a
  1 31 satellite terminal in a manner to permit a person to deposit
  1 32 funds into any account representing a liability of a financial
  1 33 institution or an industrial loan company, if the business
  1 34 location of the institution or company where the original
  1 35 records pertaining to such account are maintained is located
  2  1 outside of this state.  
  2  2 LSB 4324HV 76
  2  3 mj/jj/8
     
Text: HF02433                           Text: HF02435
Text: HF02400 - HF02499                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index
Return To Home Iowa General Assembly

index Search: House Bills and Amendments (76th General Assembly)

© 1996 Cornell College and League of Women Voters of Iowa

Comments? webmaster@legis.iowa.gov.

Last update: Thu Apr 11 03:22:29 CDT 1996
URL: /DOCS/GA/76GA/Legislation/HF/02400/HF02434/960305.html
jhf