Text: S03186 Text: S03188 Text: S03100 - S03199 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend Senate File 405 as follows:
1 2 #1. Page 3, by inserting after line 4 the
1 3 following:
1 4 "Sec. . NEW SECTION. 527A.2 LIMITATION ON
1 5 ACTIONS AGAINST PERSONS FOR ELECTRONIC FAILURE
1 6 ASSOCIATED WITH A YEAR 2000 PROBLEM.
1 7 1. A person who transacts business in this state
1 8 on matters directly or indirectly affecting real or
1 9 personal property, whether tangible or intangible,
1 10 mortgages, credit accounts, banking and financial
1 11 transactions, or property interests in this state
1 12 shall not initiate or cause to be initiated a
1 13 foreclosure proceeding, default, or other adverse
1 14 action against another person due to a failure of
1 15 payment or performance caused by a year 2000 problem.
1 16 2. A person shall not initiate or cause to be
1 17 initiated an adverse enforcement action, whether based
1 18 on contract or otherwise, against another person who
1 19 is unable to cause payment, or to act or forbear, or
1 20 to cause other financial transactions to occur in a
1 21 timely manner due to a year 2000 problem.
1 22 3. The prohibitions in subsections 1 and 2 apply
1 23 to transactions relating to and including, but not
1 24 limited to, mortgages, contracts, landlord and tenant
1 25 relations, consumer credit obligations, utilities, and
1 26 banking.
1 27 4. An enforcement action otherwise prohibited
1 28 under subsection 1 or 2, may be commenced at any time
1 29 after sixty days following the date the payment was
1 30 due or the act or omission was required to be
1 31 performed.
1 32 5. This section does not affect transactions upon
1 33 which a default occurred before any disruption of
1 34 financial or data transfer operations attributable to
1 35 a year 2000 problem.
1 36 6. This section does not eliminate, but only
1 37 suspends, the ability to enforce obligations to which
1 38 this section applies.
1 39 7. A person shall not report to a credit reporting
1 40 agency operating in this state negative credit
1 41 information resulting from a failure of payment or
1 42 performance due to a year 2000 problem."
1 43 #2. Title page, line 1, by striking the words
1 44 "financial institutions" and inserting the following:
1 45 "certain persons".
1 46 #3. By renumbering as necessary.
1 47
1 48
1 49
1 50 MICHAEL E. GRONSTAL
2 1 SF 405.702 78
2 2 mj/sc
Text: S03186 Text: S03188 Text: S03100 - S03199 Text: S Index Bills and Amendments: General Index Bill History: General Index
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