Exterior Insulation and Finishing Systems have been approved for inclusion in the 2009 International Building Code and International Residential Code. The final adoption was made recently following voting at the 2008 International Code Council Annual Conference & Final Action Hearings in Minneapolis.
The requirements for EIFS construction are the same as currently exist:

Drainage is required on framed construction in the IRC. The IBC (commercial) permits either drainage or barrier in framed construction with the exception of framed Type V Group R occupancies, which require drainage. Water resistive barriers are not required for applications over concrete or masonry under either the IRC or the IBC.

The inclusion of EIFS into the codes establishes them as recognized building materials similar to other traditional components such as stucco, brick, steel and wood
“Having EIFS in the 2009 commercial and residential building code will simplify the submittal and approval process of this energy-saving exterior cladding,” says Robert Drury, executive director of the Northwest Wall and Ceiling Bureau, a nonprofit wall and ceiling industry association headquartered in Seattle.
EIFS is a cladding system that was introduced in the United States nearly 40 years ago.