Text: S05079 Text: S05081 Text: S05000 - S05099 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend Senate File 2107 as follows:
1 2 #1. By striking everything after the enacting
1 3 clause and inserting the following:
1 4 "Section 1. NEW SECTION. 524.218A PRODUCTION OF
1 5 RECORDS.
1 6 1. A state bank shall provide upon request in
1 7 writing from a borrower, the authorized agent or
1 8 trustee of the borrower, or a person holding a power
1 9 of attorney granted by the borrower, a reasonable
1 10 number of copies of any loan or credit payoff
1 11 statement relating to any extension of credit made to
1 12 the borrower. The loan or credit payoff statement
1 13 must be provided within thirty business days of the
1 14 written request. The state bank may charge a
1 15 reasonable fee for this service which shall not exceed
1 16 the cost of providing a copy or copies of any or all
1 17 requested loan or credit payoff statements.
1 18 2. The superintendent may provide by rule for
1 19 sanctions for noncompliance, and shall establish a
1 20 maximum charge for copying which shall not exceed the
1 21 cost of providing the service, and shall include the
1 22 labor expended to locate the record and perform the
1 23 copying, at the rate usual and customary for
1 24 performing work of a clerical nature.
1 25 Sec. 2. Section 524.1204, Code Supplement 2001, is
1 26 amended by adding the following new unnumbered
1 27 paragraph:
1 28 NEW UNNUMBERED PARAGRAPH. National banks doing
1 29 business in this state shall comply with the
1 30 production of records requirements in section
1 31 524.218A.
1 32 Sec. 3. NEW SECTION. 533.40 PRODUCTION OF
1 33 RECORDS.
1 34 1. A credit union regulated under this chapter and
1 35 doing business in this state, including a federal
1 36 credit union, shall provide upon request in writing
1 37 from a borrower, the authorized agent or trustee of
1 38 the borrower, or a person holding a power of attorney
1 39 granted by the borrower, a reasonable number of copies
1 40 of any loan or credit payoff statement relating to any
1 41 extension of credit made to the borrower. The loan or
1 42 credit payoff statement must be provided within thirty
1 43 business days of the written request. The credit
1 44 union may charge a reasonable fee for this service
1 45 which shall not exceed the cost of providing a copy or
1 46 copies of any or all requested loan or credit payoff
1 47 statements.
1 48 2. The superintendent may provide by rule for
1 49 sanctions for noncompliance, and shall establish a
1 50 maximum charge for copying which shall not exceed the
2 1 cost of providing the service, and shall include the
2 2 labor expended to locate the record and perform the
2 3 copying, at the rate usual and customary for
2 4 performing work of a clerical nature.
2 5 Sec. 4. NEW SECTION. 534.410 PRODUCTION OF
2 6 RECORDS.
2 7 1. An association or savings bank doing business
2 8 in this state, including a federal savings and loan
2 9 association incorporated under the federal Home
2 10 Owners' Loan Act of 1933, 12 U.S.C. } 1461-1468, as
2 11 amended, shall provide upon request in writing from a
2 12 borrower, the authorized agent or trustee of the
2 13 borrower, or a person holding a power of attorney
2 14 granted by the borrower, a reasonable number of copies
2 15 of any loan or credit payoff statement relating to any
2 16 extension of credit made to the borrower. The loan or
2 17 credit payoff statement must be provided within thirty
2 18 business days of the written request. The association
2 19 or savings bank may charge a reasonable fee for this
2 20 service which shall not exceed the cost of providing a
2 21 copy or copies of any or all requested loan or credit
2 22 payoff statements.
2 23 2. The superintendent may provide by rule for
2 24 sanctions for noncompliance and shall establish a
2 25 maximum charge for copying which shall not exceed the
2 26 cost of providing the service, and shall include the
2 27 labor expended to locate the record and perform the
2 28 copying, at the rate usual and customary for
2 29 performing work of a clerical nature.
2 30 Sec. 5. NEW SECTION. 535B.17 PRODUCTION OF
2 31 RECORDS.
2 32 1. A licensee or other mortgagee who services
2 33 mortgages on residential real estate doing business in
2 34 this state shall provide upon request in writing from
2 35 a borrower, the authorized agent or trustee of the
2 36 borrower, or a person holding a power of attorney
2 37 granted by the borrower a reasonable number of copies
2 38 of any loan or credit payoff statement relating to any
2 39 extension of credit made to the borrower. The
2 40 requested documents must be provided within thirty
2 41 business days of the written request. The licensee or
2 42 other mortgagee who services mortgages on residential
2 43 real estate may charge a reasonable fee for this
2 44 service which shall not exceed the cost of providing a
2 45 copy of any or all documents.
2 46 2. The administrator may provide by rule for
2 47 sanctions for noncompliance, and shall establish a
2 48 maximum charge for copying which shall not exceed the
2 49 cost of providing the service, and shall include the
2 50 labor expended to locate the record and perform the
3 1 copying, at the rate usual and customary for
3 2 performing work of a clerical nature.
3 3 Sec. 6. NEW SECTION. 536.17 PRODUCTION OF
3 4 RECORDS.
3 5 1. A licensee doing business in this state shall
3 6 provide upon request in writing from a borrower, the
3 7 authorized agent or trustee of the borrower, or a
3 8 person holding a power of attorney granted by the
3 9 borrower, a reasonable number of copies of any loan or
3 10 credit payoff statement relating to any extension of
3 11 credit made to the borrower. The loan or credit
3 12 payoff statement must be provided within thirty
3 13 business days of the written request. The licensee
3 14 may charge a reasonable fee for this service which
3 15 shall not exceed the cost of providing a copy or
3 16 copies of any or all requested loan or credit payoff
3 17 statements.
3 18 2. The superintendent may provide by rule for
3 19 sanctions for noncompliance, and shall establish a
3 20 maximum charge for copying which shall not exceed the
3 21 cost of providing the service, and shall include the
3 22 labor expended to locate the record and perform the
3 23 copying, at the rate usual and customary for
3 24 performing work of a clerical nature.
3 25 Sec. 7. Section 536A.23, Code Supplement 2001, is
3 26 amended by adding the following new subsection:
3 27 NEW SUBSECTION. 6. Industrial loan companies
3 28 licensed under this chapter shall comply with the
3 29 production of records requirements in section 536.17.
3 30 Sec. 8. NEW SECTION. 537.1111 PRODUCTION OF
3 31 RECORDS.
3 32 1. A person subject to the requirements of this
3 33 chapter, as provided in section 537.6102, shall
3 34 provide upon request in writing from a borrower, the
3 35 authorized agent or trustee of the borrower, or a
3 36 person holding a power of attorney granted by the
3 37 borrower, a reasonable number of copies of any loan or
3 38 credit payoff statement relating to any extension of
3 39 credit made to the borrower. The loan or credit
3 40 payoff statement must be provided within thirty
3 41 business days of the written request. The person may
3 42 charge a reasonable fee for this service which shall
3 43 not exceed the cost of providing a copy or copies of
3 44 any or all requested loan or credit payoff statements.
3 45 2. The administrator may provide by rule for
3 46 sanctions for noncompliance, and shall establish a
3 47 maximum charge for copying which shall not exceed the
3 48 cost of providing the service, and shall include the
3 49 labor expended to locate the record and perform the
3 50 copying, at the rate usual and customary for
4 1 performing work of a clerical nature."
4 2
4 3
4 4
4 5 JOHN W. JENSEN
4 6 SF 2107.702 79
4 7 jj/cls
Text: S05079 Text: S05081 Text: S05000 - S05099 Text: S Index Bills and Amendments: General Index Bill History: General Index
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