533.324 Preservation of records — statute of limitations. 1. All causes of action, other than actions for relief on the grounds of fraud or mistake, against a state credit union based upon a claim or claims founded on a written contract, ora claim or claims inconsistent with an entry or entries in a state credit union record, madein the ordinary course of business, shall be deemed to have accrued, and shall accrue for thepurpose of the statute of limitations one year after the breach or failure of performance of awritten contract, or one year after the date of such entry or entries. No action founded uponsuch a cause may be brought after the expiration of six years from the date of such accrual. 2. In any cause or proceeding in which state credit union records or files may be called in question or be demanded of the state credit union, or any officer or employee of the statecredit union, a showing that such records or files have been destroyed in accordance withthe provisions of this chapter or rules adopted pursuant to this chapter shall be a sufficientexcuse for the failure to produce them. that such records or files have been destroyed in accordance withthe provisions of this chapter or rules adopted pursuant to this chapter shall be a sufficientexcuse for the failure to produce them. 2007 Acts, ch 174, §55; 2011 Acts, ch 87, §4 Sat Dec 23 01:33:27 2023 Iowa Code 2024, Section 533.324 (19, 0)
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