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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