Text: S05355 Text: S05357 Text: S05300 - S05399 Text: S Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN 1 1 Amend Senate File 2368 as follows: 1 2 #1. Page 1, by inserting before line 1, the 1 3 following: 1 4 "Section 1. Section 511.8, subsection 21, 1 5 paragraph a, subparagraph (1), Code 1995, is amended 1 6 to read as follows: 1 7 (1) "Clearing corporation" means a corporation as 1 8 defined in section 554.8102, subsection 3. 1 9 Sec. . Section 515.35, subsection 2, paragraphs 1 10 b and c, Code 1995, are amended to read as follows: 1 11 b. "Clearing corporation" means as defined in 1 12 section 554.8102, subsection 3. 1 13 c. "Custodian bank" meansas defined in section1 14554.8102, subsection 4a bank or trust company that is 1 15 supervised and examined by state or federal authority 1 16 having supervision over banks and is acting as 1 17 custodian for a clearing corporation. 1 18 Sec. . Section 518.14, subsection 2, paragraph 1 19 c, Code Supplement 1995, is amended to read as 1 20 follows: 1 21 c. "Custodian bank" means as defined in section 1 22554.8102515.35. 1 23 Sec. . Section 518A.12, subsection 2, paragraph 1 24 c, Code Supplement 1995, is amended to read as 1 25 follows: 1 26 c. "Custodian bank" means as defined in section 1 27554.8102515.35." 1 28 #2. Page 2, by inserting after line 6 the 1 29 following: 1 30 "Sec. . Section 554.5114, subsection 2, 1 31 paragraph a, Code 1995, is amended to read as follows: 1 32 a. the issuer must honor the draft or demand for 1 33 payment if honor is demanded by a negotiating bank or 1 34 other holder of the draft or demand which has taken 1 35 the draft or demand under the credit and under 1 36 circumstances which would make it a holder in due 1 37 course (section 554.3302) and in an appropriate case 1 38 would make it a person to whom a document of title has 1 39 been duly negotiated (section 554.7502) or abona fide1 40 purchaser of a certificated or uncertificated security 1 41 who acquires rights in a security (section 554.8302); 1 42 and". 1 43 #3. Page 11, line 11, by striking the word "State" 1 44 and inserting the following: "state". 1 45 #4. Page 17, line 25, by striking the figure "4" 1 46 and inserting the following: "4." 1 47 #5. Page 20, line 3, by inserting before the word 1 48 "security" the following: "a". 1 49 #6. Page 20, line 9, by striking the words "its 1 50 guaranty, whether or not". 2 1 #7. Page 22, line 21, by striking the word 2 2 "director" and inserting the following: "directly". 2 3 #8. Page 24, line 2, by striking the words "if the 2 4 purchaser" and inserting the following: "purchaser". 2 5 #9. Page 24, line 4, by striking the word "sent," 2 6 and inserting the following: "sent,". 2 7 #10. Page 24, line 12, by striking the words 2 8 "paragraph "a"" and inserting the following: 2 9 "subsection 1". 2 10 #11. Page 33, line 18, by striking the word "by". 2 11 #12. Page 33, lines 26 and 27, by striking the 2 12 figures "554.8402554.8403" and inserting the 2 13 following: "554.8402". 2 14 #13. Page 34, line 29, by striking the word 2 15 "endorsement" and inserting the following: 2 16 "endorsementindorsement". 2 17 #14. Page 34, line 32, by striking the word 2 18 "endorsement" and inserting the following: 2 19 "endorsementindorsement". 2 20 #15. Page 34, line 33, by striking the word 2 21 "fiduciary," and inserting the following: 2 22 "fiduciary,". 2 23 #16. Page 35, line 11, by striking the word 2 24 "Guarantee" and inserting the following: "Guaranty". 2 25 #17. Page 35, line 12, by striking the word 2 26 "guarantee" and inserting the following: "guarantee2 27 guaranty". 2 28 #18. Page 36, line 24, by striking the figure 2 29 "(1)" and inserting the following: "(i)". 2 30 #19. Page 36, line 26, by striking the figure 2 31 "(2)" and inserting the following: "(ii)". 2 32 #20. Page 37, line 3, by inserting after the 2 33 letter ""c"," the following: "may". 2 34 #21. Page 45, line 1, by inserting after the words 2 35 "to the" the following: "entitlement holder for 2 36 damages." 2 37 #22. Page 50, by inserting after line 7 the 2 38 following: 2 39 ""Control" Section 554.9115". 2 40 #23. Page 53, line 35, by striking the letter and 2 41 word "e. priority" and inserting the following: "5. 2 42 Priority" 2 43 #24. Page 54, line 2, by striking the figure "(1)" 2 44 and inserting the following: "a." 2 45 #25. Page 54, line 6, by striking the figure "(2)" 2 46 and inserting the following: "b." 2 47 #26. Page 54, line 9, by striking the figure "(3)" 2 48 and inserting the following: "c." 2 49 #27. Page 54, line 14, by striking the figure 2 50 "(4)" and inserting the following: "d." 3 1 #28. Page 54, line 19, by striking the figure 3 2 "(5)" and inserting the following: "e." 3 3 #29. Page 54, line 22, by striking the figure 3 4 "(6)" and inserting the following: "f." 3 5 #30. Page 54, line 26, by striking the letter and 3 6 word "f. if" and inserting the following: "6. If" 3 7 #31. Page 55, line 30, by striking the word 3 8 "interest" and inserting the following: "interests". 3 9 #32. Page 56, line 11, by striking the word "and" 3 10 and inserting the following: "and". 3 11 #33. Page 57, line 16, by striking the word "a". 3 12 #34. Page 60, by inserting after line 10 the 3 13 following: 3 14 "Sec. . Section 633.89, unnumbered paragraph 1, 3 15 Code 1995, is amended to read as follows: 3 16 A fiduciary as defined in section 633.3,subsection3 1717,holding securities, and a bank as defined in 3 18 section 524.103,subsection 7,which is holding 3 19 securities as a managing agent or as a custodian, 3 20 including a custodian for a fiduciary, may deposit 3 21 securities in a clearing corporation, as defined in 3 22 section 554.8102,subsection 3,which is located 3 23 within or without the state of Iowa, if the clearing 3 24 corporation is federally regulated. A depositing bank 3 25 is subject to rules adopted by the superintendent of 3 26 banking, with respect to state banks, and by the 3 27 comptroller of the currency, with respect to national 3 28 banking associations." 3 29 #35. Page 60, by inserting after line 34 the 3 30 following: 3 31 "Sec. . Sections 633.130 through 633.138, Code 3 32 1995, are repealed. 3 33 Sec. . PREVAILING STATUTE. If 1996 Iowa Acts, 3 34 Senate File 2270, or 1996 Iowa Acts, House File 2402, 3 35 is enacted, either of those Acts prevails over the 3 36 amendments to section 554.5114 in this Act." 3 37 #36. By renumbering as necessary. 3 38 3 39 3 40 3 41 TOM FLYNN 3 42 SF 2368.301 76 3 43 da/cf
Text: S05355 Text: S05357 Text: S05300 - S05399 Text: S Index Bills and Amendments: General Index Bill History: General Index
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