524.804 Data processing services. A state bank which owns or leases equipment to perform such bank services as check and deposit sorting and posting, computation and posting of interest and other creditsand charges, preparation and mailing of checks, statements, notices, and similar items, orother clerical, bookkeeping, accounting, statistical, or other similar functions, may providesimilarly related data processing services for others whether or not engaged in the businessof banking. If a state bank holds shares in a corporation organized solely for the purposeof providing data processing services, pursuant to the authority granted by section 524.803,subsection 1, paragraph 'd', other than a bank service corporation as defined by the laws ofthe United States, such corporation shall be authorized to perform services for the state bankowning such interest and for others, whether or not engaged in the business of banking. [C62, 66, §524.31; C71, 73, 75, 77, 79, 81, §524.804]95 Acts, ch 148, §82Referred to in §524.802A, 524.803, 524.1201 Sat Dec 23 01:17:02 2023 Iowa Code 2024, Section 524.804 (22, 0)
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