Iowa General Assembly Banner

 
Text: SSB02270                          Text: SSB02272
Text: SSB02200 - SSB02299               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index

Senate Study Bill 2271

Conference Committee 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 if all satellite terminals or other similar
  1  6 type terminals owned, controlled, operated, or maintained by
  1  7 the financial institution, wherever located, are available on
  1  8 a reciprocal basis to any financial institution whose licensed
  1  9 or with a principal place of business is located in this state
  1 10 and to any financial institution with a business location in
  1 11 this state which complies with this paragraph, and to all
  1 12 customers who have been designated by a any such financial
  1 13 institution using the satellite terminal and who have been
  1 14 provided with an access device.
  1 15    Sec. 2.  Section 527.5, subsection 8, Code Supplement 1995,
  1 16 is amended by striking the subsection.  
  1 17                           EXPLANATION
  1 18    This bill amends section 527.5, relating to the
  1 19 requirements for satellite terminals.  The bill provides that
  1 20 a satellite terminal must be available for use on a
  1 21 nondiscriminatory basis by any financial institution whose
  1 22 licensed or principal place of business is located in another
  1 23 state, but which has a business within this state.  Such
  1 24 availability is premised on the fact that the other financial
  1 25 institution's satellite terminals owned, controlled, operated,
  1 26 or maintained by the financial institution are available on a
  1 27 reciprocal basis.
  1 28    The bill also strikes the prohibition on the operation of a
  1 29 satellite terminal in a manner to permit a person to deposit
  1 30 funds into any account representing a liability of a financial
  1 31 institution or an industrial loan company, if the business
  1 32 location of the institution or company where the original
  1 33 records pertaining to such account are maintained is located
  1 34 outside of this state.  
  1 35 LSB 4324SC 76
  2  1 mj/jj/8
     
Text: SSB02270                          Text: SSB02272
Text: SSB02200 - SSB02299               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index
Return To Home Iowa General Assembly

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

© 1996 Cornell College and League of Women Voters of Iowa

Comments? webmaster@legis.iowa.gov.

Last update: Thu Feb 22 07:38:01 CST 1996
URL: /DOCS/GA/76GA/Legislation/SSB/02200/SSB02271/960221.html
jhf