SSB 3127: SSB 3127

What it does

This bill relates to electronic communication regarding property that is assumed to be abandoned for purposes of property held by a bank, financial institution, or business association. The bill defines “electronic messaging” to mean electronic mail, text messaging, or other electronic means of communication, including an online banking website application. _____ being considered abandoned include electronic messaging along with correspondence in writing. The bill also provides that consent for renewal of previously held property between an owner and a banking or financial organization or a business association can be considered effective if notice was sent by electronic messaging and the notice is not returned to the bank for nondelivery.

Senate subcommittee · named February 9, 2022

• Sen. Carrie Koelker (R) · carrie.koelker@legis.iowa.gov
• Sen. Eric Giddens (D)
• Sen. Craig Steven Williams (R) · craig.williams@legis.iowa.gov

Lobbying · 3 for, 0 against

For: Community Bankers of Iowa; Iowa Bankers Association; Iowa Credit Union League

In plain words

1. February 9, 2022Filed in the Senate and sent to the Commerce committee
2. February 9, 2022Senate subcommittee named: Koelker, Giddens and Williams
3. February 14, 2022Subcommittee recommended passing it
4. February 16, 2022Approved by the Senate committee, and given a new number: SF 2313