Text: SF02106 Text: SF02108 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 524.218A PRODUCTION OF RECORDS.
1 2 1. A state bank shall provide upon request in writing from
1 3 a borrower, the authorized agent or trustee of the borrower,
1 4 or a person holding a power of attorney granted by the
1 5 borrower, a reasonable number of copies of any loan or credit
1 6 payoff statement relating to any extension of credit made to
1 7 the borrower. The loan or credit payoff statement must be
1 8 provided within thirty business days of the written request.
1 9 The state bank may charge a reasonable fee for this service
1 10 which shall not exceed the cost of providing a copy or copies
1 11 of any or all requested loan or credit payoff statements.
1 12 2. The superintendent may provide by rule for sanctions
1 13 for noncompliance, and shall establish a maximum charge for
1 14 copying which shall not exceed the cost of providing the
1 15 service, and shall include the labor expended to locate the
1 16 record and perform the copying, at the rate usual and
1 17 customary for performing work of a clerical nature.
1 18 Sec. 2. Section 524.1204, Code Supplement 2001, is amended
1 19 by adding the following new unnumbered paragraph:
1 20 NEW UNNUMBERED PARAGRAPH. National banks doing business in
1 21 this state shall comply with the production of records
1 22 requirements in section 524.218A.
1 23 Sec. 3. NEW SECTION. 533.40 PRODUCTION OF RECORDS.
1 24 1. A credit union regulated under this chapter and doing
1 25 business in this state, including a federal credit union,
1 26 shall provide upon request in writing from a borrower, the
1 27 authorized agent or trustee of the borrower, or a person
1 28 holding a power of attorney granted by the borrower, a
1 29 reasonable number of copies of any loan or credit payoff
1 30 statement relating to any extension of credit made to the
1 31 borrower. The loan or credit payoff statement must be
1 32 provided within thirty business days of the written request.
1 33 The credit union may charge a reasonable fee for this service
1 34 which shall not exceed the cost of providing a copy or copies
1 35 of any or all requested loan or credit payoff statements.
2 1 2. The superintendent may provide by rule for sanctions
2 2 for noncompliance, and shall establish a maximum charge for
2 3 copying which shall not exceed the cost of providing the
2 4 service, and shall include the labor expended to locate the
2 5 record and perform the copying, at the rate usual and
2 6 customary for performing work of a clerical nature.
2 7 Sec. 4. NEW SECTION. 534.410 PRODUCTION OF RECORDS.
2 8 1. An association or savings bank doing business in this
2 9 state, including a federal savings and loan association
2 10 incorporated under the federal Home Owners' Loan Act of 1933,
2 11 12 U.S.C. } 1461-1468, as amended, shall provide upon request
2 12 in writing from a borrower, the authorized agent or trustee of
2 13 the borrower, or a person holding a power of attorney granted
2 14 by the borrower, a reasonable number of copies of any loan or
2 15 credit payoff statement relating to any extension of credit
2 16 made to the borrower. The loan or credit payoff statement
2 17 must be provided within thirty business days of the written
2 18 request. The association or savings bank may charge a
2 19 reasonable fee for this service which shall not exceed the
2 20 cost of providing a copy or copies of any or all requested
2 21 loan or credit payoff statements.
2 22 2. The superintendent may provide by rule for sanctions
2 23 for noncompliance and shall establish a maximum charge for
2 24 copying which shall not exceed the cost of providing the
2 25 service, and shall include the labor expended to locate the
2 26 record and perform the copying, at the rate usual and
2 27 customary for performing work of a clerical nature.
2 28 Sec. 5. NEW SECTION. 535B.17 PRODUCTION OF RECORDS.
2 29 1. A licensee or other mortgagee who services mortgages on
2 30 residential real estate doing business in this state shall
2 31 provide upon request in writing from a borrower, the
2 32 authorized agent or trustee of the borrower, or a person
2 33 holding a power of attorney granted by the borrower a
2 34 reasonable number of copies of any loan or credit payoff
2 35 statement relating to any extension of credit made to the
3 1 borrower. The requested documents must be provided within
3 2 thirty business days of the written request. The licensee or
3 3 other mortgagee who services mortgages on residential real
3 4 estate may charge a reasonable fee for this service which
3 5 shall not exceed the cost of providing a copy of any or all
3 6 documents.
3 7 2. The administrator may provide by rule for sanctions for
3 8 noncompliance, and shall establish a maximum charge for
3 9 copying which shall not exceed the cost of providing the
3 10 service, and shall include the labor expended to locate the
3 11 record and perform the copying, at the rate usual and
3 12 customary for performing work of a clerical nature.
3 13 Sec. 6. NEW SECTION. 536.17 PRODUCTION OF RECORDS.
3 14 1. A licensee doing business in this state shall provide
3 15 upon request in writing from a borrower, the authorized agent
3 16 or trustee of the borrower, or a person holding a power of
3 17 attorney granted by the borrower, a reasonable number of
3 18 copies of any loan or credit payoff statement relating to any
3 19 extension of credit made to the borrower. The loan or credit
3 20 payoff statement must be provided within thirty business days
3 21 of the written request. The licensee may charge a reasonable
3 22 fee for this service which shall not exceed the cost of
3 23 providing a copy or copies of any or all requested loan or
3 24 credit payoff statements.
3 25 2. The superintendent may provide by rule for sanctions
3 26 for noncompliance, and shall establish a maximum charge for
3 27 copying which shall not exceed the cost of providing the
3 28 service, and shall include the labor expended to locate the
3 29 record and perform the copying, at the rate usual and
3 30 customary for performing work of a clerical nature.
3 31 Sec. 7. Section 536A.23, Code Supplement 2001, is amended
3 32 by adding the following new subsection:
3 33 NEW SUBSECTION. 6. Industrial loan companies licensed
3 34 under this chapter shall comply with the production of records
3 35 requirements in section 536.17.
4 1 Sec. 8. NEW SECTION. 537.1111 PRODUCTION OF RECORDS.
4 2 1. A person subject to the requirements of this chapter,
4 3 as provided in section 537.6102, shall provide upon request in
4 4 writing from a borrower, the authorized agent or trustee of
4 5 the borrower, or a person holding a power of attorney granted
4 6 by the borrower, a reasonable number of copies of any loan or
4 7 credit payoff statement relating to any extension of credit
4 8 made to the borrower. The loan or credit payoff statement
4 9 must be provided within thirty business days of the written
4 10 request. The person may charge a reasonable fee for this
4 11 service which shall not exceed the cost of providing a copy or
4 12 copies of any or all requested loan or credit payoff
4 13 statements.
4 14 2. The administrator may provide by rule for sanctions for
4 15 noncompliance, and shall establish a maximum charge for
4 16 copying which shall not exceed the cost of providing the
4 17 service, and shall include the labor expended to locate the
4 18 record and perform the copying, at the rate usual and
4 19 customary for performing work of a clerical nature.
4 20 SF 2107
4 21 jj/cc/26
Text: SF02106 Text: SF02108 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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