Comment by bostik

No, it's not that way around. And it's not a law.[ß] If you and a high-finance institution agree to a separate (lawyer-negotiated!) contract where you provide essential/important software to the institution, they quite often require code escrow arrangements as part of the deal.

There are a few such services around, usually owned by a giant global consulting house.

The idea is that if you as a vendor go out of business or otherwise become unable to maintain the software, the finance institution gets access to the software via the escrow. Importantly, they also gain the contractual and legal rights to further maintain (read: modify) the software.

Under such contract the vendor has an obligation to upload periodic code releases to the escrow service, and the escrow service validates that the release builds. (And passes the bnudled test suite.) Rather surprisingly these services don't even cost that much... at least in the grand scheme of things. The requirement usually comes up only when the underlying supplier deal is at least six figures annually.

ß: well, contract law is still law but not in the sense the parent appears to be thinking