Year 2000 Information and Readiness Disclosure Act

Year 2000 Information and Readiness Disclosure Act - Provides that no Year 2000 (Y2K problem) readiness disclosure (a statement concerning Year 2000 computer compliance information) shall be admissible in any civil action arising under Federal or State law against the maker of the disclosure to prove the accuracy or truth of any year 2000 statement in such disclosure, except: (1) as the basis for a claim for anticipatory breach or repudiation or a similar claim against the maker; and (2) when a court determines that the maker's disclosure amounts to bad faith or fraud or is otherwise unreasonable. Provides that the maker of such a statement shall not be liable in an action based on an allegedly false, inaccurate, or misleading year 2000 statement unless the claimant establishes that the statement was material and, to the extent that the statement was not a republication of another's original statement, was made with: (1) knowledge of it being false, inaccurate, or misleading; and (2) an intent to deceive or mislead or with reckless disregard of its accuracy. Precludes maker liability in such an action to the extent that the statement was a republication of another party, unless the claimant establishes that the maker made the statement: (1) with knowledge of it being false, inaccurate, or misleading and with the intent to deceive or mislead; or (2) without notice in such statem…

Congressional Research Service · 1998-09-28