§ 524.221

524.221 Preservation of bank records — statute of limitations. 1. a. A state bank is not required to preserve its records for a period longer than seven years after the first day of January of the year following the time of the making or filingof such records, provided, however, that account records showing unpaid balances due todepositors shall not be destroyed. A copy of an original may be kept in lieu of any suchoriginal record. For purposes of this subsection, a copy includes any duplicate, rerecordingor reproduction of an original record from any photograph, photostat, microfilm, microcard,miniature or microphotograph, computer printout, electronically stored data or image, orother process which accurately reproduces or forms a durable medium for accurately andlegibly reproducing an unaltered image or reproduction of the original record. b. A copy is deemed to be an original and shall be treated as an original record in a judicial or administrative proceeding for purposes of admissibility in evidence. A facsimile,exemplification, or certified copy of any such copy reproduced from a film record is deemedto be a facsimile, exemplification, or certified copy of the original.

dmissibility in evidence. A facsimile,exemplification, or certified copy of any such copy reproduced from a film record is deemedto be a facsimile, exemplification, or certified copy of the original. A printout or othertangible output readable by sight shown to accurately reflect data contained in a promissorynote, negotiable instrument, or letter of credit, which contains a signature made or createdby electronic or digital means such that it is stored by a computer or similar device, isdeemed to be an original of such note, instrument, or letter for purposes of presenting suchnote, instrument, or letter for payment, acceptance, or honor, or for purposes of a judicialproceeding involving a claim based upon such note, instrument, or letter. 2. All causes of action, other than actions for relief on the grounds of fraud or mistake, against a state bank based upon a claim or claims founded on a written contract, or a claimor claims inconsistent with an entry or entries in a state bank record, made in the regularcourse of business, shall be deemed to have accrued, and shall accrue for the purpose of thestatute of limitations one year after the breach or failure of performance of a

record, made in the regularcourse of business, shall be deemed to have accrued, and shall accrue for the purpose of thestatute of limitations one year after the breach or failure of performance of a written contract,or one year after the date of such entry or entries. No action founded upon such a cause maybe brought after the expiration of six years from the date of such accrual. 3. The provisions of this section, insofar as applicable, shall apply to the records of a national bank, a federal savings association, or an out-of-state bank. [C50, 54, 58, 62, 66, §528A.1 – 528A.5; C71, 73, 75, 77, 79, 81, §524.221]91 Acts, ch 95, §1; 99 Acts, ch 34, §1; 2011 Acts, ch 87, §1, 2; 2012 Acts, ch 1023, §81; 2022 Acts, ch 1062, §20 Referred to in §524.1314 Sat Dec 23 01:11:25 2023 Iowa Code 2024, Section 524.221 (27, 0)