Text: SF00232 Text: SF00234 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 1 2 SENATE FILE 233 1 3 1 4 AN ACT 1 5 RELATING TO THE PRESERVATION OF RECORDS HELD BY FINANCIAL 1 6 INSTITUTIONS. 1 7 1 8 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 1 9 1 10 Section 1. Section 524.221, subsection 1, Code 1999, is 1 11 amended by adding the following new unnumbered paragraph: 1 12 NEW UNNUMBERED PARAGRAPH. A copy is deemed to be an 1 13 original and shall be treated as an original record in a 1 14 judicial or administrative proceeding for purposes of 1 15 admissibility in evidence. A facsimile, exemplification, or 1 16 certified copy of any such copy reproduced from a film record 1 17 is deemed to be a facsimile, exemplification, or certified 1 18 copy of the original. A printout or other tangible output 1 19 readable by sight shown to accurately reflect data contained 1 20 in a promissory note, negotiable instrument, or letter of 1 21 credit, which contains a signature made or created by 1 22 electronic or digital means such that it is stored by a 1 23 computer or similar device, is deemed to be an original of 1 24 such note, instrument, or letter for purposes of presenting 1 25 such note, instrument, or letter for payment, acceptance, or 1 26 honor, or for purposes of a judicial proceeding involving a 1 27 claim based upon such note, instrument, or letter. 1 28 Sec. 2. Section 533.26, Code 1999, is amended to read as 1 29 follows: 1 30 533.26 PRESERVATION OF RECORDS. 1 31 The superintendent shall prescribe by rule the period of 1 32 preservation of records or files for credit unions. A copy of 1 33 an original may be kept in lieu of any original records. For 1 34 purposes of this section, a copy includes any duplicate, 1 35 rerecording or reproduction of an original record from any 2 1 photograph, photostat, microfilm, microcard, miniature or 2 2 microphotograph, computer printout, electronically stored data 2 3 or image, or other process which accurately reproduces or 2 4 forms a durable medium for accurately and legibly reproducing 2 5 an unaltered image or reproduction of the original record. A 2 6 copy is deemed to be an original and shall be treated as an 2 7 original record in a judicial or administrative proceeding for 2 8 purposes of admissibility in evidence. A facsimile, 2 9 exemplification, or certified copy of any such copy reproduced 2 10 from a film record is deemed to be a facsimile, 2 11 exemplification, or certified copy of the original. 2 12 Sec. 3. Section 533.28, Code 1999, is amended to read as 2 13 follows: 2 14 533.28 PHOTOGRAPHIC RECORDS. 2 15 1. Any writing or record, or a photostatic or photographic 2 16 reproductionthereofof such writing or record, ofanya 2 17 credit union whether in the form of an entry in a book or 2 18 otherwise, made as a memorandum or record of any act, 2 19 transaction, occurrence, or event, shall be admissible in 2 20 evidence in proof ofsaidthe act, transaction, occurrence, or 2 21 event, if made in the regular course of business. 2 22 2. A printout or other tangible output readable by sight 2 23 shown to accurately reflect data contained in a promissory 2 24 note, negotiable instrument, or letter of credit, which 2 25 contains a signature made or created by electronic or digital 2 26 means such that it is stored by a computer or similar device, 2 27 is deemed to be an original of such note, instrument, or 2 28 letter for purposes of presenting such note, instrument, or 2 29 letter for payment, acceptance, or honor, or for purposes of a 2 30 judicial proceeding involving a claim based upon such note, 2 31 instrument, or letter. 2 32 Sec. 4. Section 534.106, subsection 7, Code 1999, is 2 33 amended by adding the following new unnumbered paragraph: 2 34 NEW UNNUMBERED PARAGRAPH. A printout or other tangible 2 35 output readable by sight shown to accurately reflect data 3 1 contained in a promissory note, negotiable instrument, or 3 2 letter of credit, which contains a signature made or created 3 3 by electronic or digital means such that it is stored by a 3 4 computer or similar device, is deemed to be an original of 3 5 such note, instrument, or letter for purposes of presenting 3 6 such note, instrument, or letter for payment, acceptance, or 3 7 honor, or for purposes of a judicial proceeding involving a 3 8 claim based upon such note, instrument, or letter. 3 9 3 10 3 11 3 12 MARY E. KRAMER 3 13 President of the Senate 3 14 3 15 3 16 3 17 RON J. CORBETT 3 18 Speaker of the House 3 19 3 20 I hereby certify that this bill originated in the Senate and 3 21 is known as Senate File 233, Seventy-eighth General Assembly. 3 22 3 23 3 24 3 25 MICHAEL E. MARSHALL 3 26 Secretary of the Senate 3 27 Approved , 1999 3 28 3 29 3 30 3 31 THOMAS J. VILSACK 3 32 Governor
Text: SF00232 Text: SF00234 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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