Text: SF00270 Text: SF00272 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 524.1201, Code 1995, is amended to read 1 2 as follows: 1 3 524.1201 GENERAL PROVISIONS. 1 4 1. A bank shall not open or maintain a branch bank. A 1 5 state bank may establish and operate bank offices subject to 1 6 approval and regulation of the superintendent and to the 1 7 restrictions upon location and number imposed by section 1 8 524.1202. A bank office may furnish all banking services 1 9 ordinarily furnished to customers and depositors at the 1 10 principal place of business of the state bank which operates 1 11 the office, and a bank office manager or an officer of the 1 12 bank shall be physically present at each bank office during a 1 13 majority of its business hours. The central executive and 1 14 official business and principal recordkeeping functions of a 1 15 state bank shall be exercised only at its principal place of 1 16 business, except thator at another bank office as authorized 1 17 by the superintendent for these functions. 1 18 2. Notwithstanding subsection 1, data processing services 1 19 referred to in section 524.804 may be performed for the state 1 20 bank at some otherpointlocation. All transactions of a bank 1 21 office shall be immediately transmitted to the principal place 1 22 of business or other bank office authorized under subsection 1 1 23 of the state bank which operates the office, and no current 1 24 recordkeeping functions shall be maintained at a bank office 1 25 other than the bank office authorized under subsection 1, 1 26 except to the extent the state bank which operates the office 1 27 deems it desirable to keep there duplicates of the records 1 28 kept at the principal place of business or authorized bank 1 29 office of the state bank. 1 30 3. Notwithstanding any of the other provisions of this 1 31 section, original trust recordkeeping functions may be 1 32 centrally located at an authorized bank office, and original 1 33 loan documentation recordkeeping functions may be located at 1 34 an authorized bank office or at the office of the holding 1 35 company of a state bank, subject to the approval of the 2 1 superintendent. 2 2 EXPLANATION 2 3 This bill provides that the superintendent may authorize 2 4 another bank office as an office where the state bank may 2 5 maintain all of its central executive, official business and 2 6 principal recordkeeping functions. Currently, these functions 2 7 must be maintained at the principal place of business of the 2 8 bank. 2 9 LSB 1824SV 76 2 10 mj/cf/24
Text: SF00270 Text: SF00272 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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