reglab/statecodes huggingface dataset:
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.325 - Confidentiality of state credit union information.

533.325 Confidentiality of state credit union information.
1. The directors, officers, committee members, and employees of a state credit union shall hold in confidence all information regarding transactions of the state credit union, including information regarding transactions with its members and their personal affairs, except to the extent necessary in connection with any of the following:
a. Making, extending, or collecting a loan or line of credit.
b. Guaranteeing of member share drafts by third parties.
c. Communicating with an insurance company for the purpose of facilitating the availability or continuation of the insurance or bond of the state credit union or the resolution of a claim, pursuant to section 533.308, subsection 3.
d. Pursuant to a confidentiality agreement that is executed pursuant to section 533.108, subsection 1.
e. Complying with the examination of credit union records by regulatory authorities .
f. Compliance with an order from a court having jurisdiction over the state credit union.
2. The board of directors may authorize participation of a state credit union in a credit or consumer reporting agency if the board has determined that use of such an agency is essential in making and extending a loan or line of credit, or guaranteeing member share drafts, and that information supplied by the state credit union to such agency will be made available only to legitimate members of that agency having a legitimate business need for the information in connection with a business transaction involving the state credit union.
2007 Acts, ch 174, §56; 2012 Acts, ch 1020, §17
Referred to in §533.113
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.326 - Governmental employees.

533.326 Governmental employees.
1. When a state credit union has been organized by the employees of the state or any political subdivision of the state, the officer who writes warrants for the state or other governmental body by which any public employee state credit union member is employed, may withhold from the salary or wages of the employee, and pay over to such state credit union, sums as may be designated by written authorization signed by the employee.
2. The provisions of section 539.4 shall have no application to this section.
2007 Acts, ch 174, §57
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.330 - Reports.

533.330 Reports.
1. A state credit union shall report quarterly at a specified time to the superintendent in a format prescribed by the superintendent for that purpose.
a. If any quarterly report is in arrears, a penalty of one hundred dollars for each day or fraction of a day such report is in arrears may be levied by the superintendent against the offending state credit union. This penalty shall be in addition to the penalty for failure to pay the annual fee pursuant to section 533.112.
b. If a quarterly report is not provided to the superintendent within thirty days of the due date, the superintendent may, after written notice to the board of directors of the state credit union, suspend or revoke the certificate of approval, take possession of the business and property of the state credit union, and order its dissolution.
2. In addition to the quarterly report, the superintendent may, from time to time, require a state credit union to provide other supplemental reports at a specified time. Failure of a state credit union to provide supplemental reports when due may result in the superintendent levying a penalty of fifty dollars per day for each day or fraction of a day such report is late.
2007 Acts, ch 174, §61
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.331 - Data breach — duty to notify.

533.331 Data breach — duty to notify.
1. In accordance with
12 C.F.R. pt. 748
, Appendix B, a state credit union shall maintain an information security response program that includes procedures for notifying the credit union division as soon as possible after the credit union becomes aware of an incident involving unauthorized access to or use of sensitive member information that would permit access to the member’s account, as further detailed in
12 C.F.R. pt. 748
.
2. State credit unions that experience an information security breach may be subject to chapter 715C.
2016 Acts, ch 1030, §7
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.402 - Conversion of financial institution to state credit union.

533.402 Conversion of financial institution to state credit union.
1. Any financial institution may convert to a state credit union by complying with the laws of the original chartered authority and upon the approval of the superintendent. As used in this section, “financial institution” means any credit union, bank, savings bank, or savings and loan association chartered under federal or state law.
a. Application for approval of the conversion to a state credit union shall be submitted to the superintendent in the form prescribed by the superintendent, together with the articles of incorporation and bylaws as required for organization of a state credit union pursuant to this chapter.
b. The superintendent may cause an examination to be made of any converting financial institution. The converting financial institution shall reimburse the superintendent for the division’s costs related to the conversion.
2. a. If the superintendent approves the application of a financial institution for conversion to a state credit union, the superintendent shall cause the articles of incorporation of the resulting state credit union to be filed and recorded in the county in which the state credit union has its principal place of business and the superintendent shall issue a certificate of authority to do business under the laws of this state to the resulting state credit union. The financial institution shall then become a state credit union subject to the laws of this state.
b. The superintendent shall furnish a copy of the certificate to the administrator of the national credit union administration.
3. a. Upon conversion, the existence of the original financial institution shall cease.
b. The state credit union resulting from the conversion shall have only the authority to engage in the business and exercise the powers of a state credit union.
4. a. A liability of the original financial institution or of its members, directors, or officers shall not be affected, and any lien on any property of the financial institution shall not be impaired by the conversion.
b. Any claim existing or action pending by or against the original financial institution may be prosecuted to judgment as if the conversion had not taken place, or the resulting state credit union may be substituted in its place.
2007 Acts, ch 174, §63
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.403 - Conversion of state credit union into federal credit union.

533.403 Conversion of state credit union into federal credit union.
1. A state credit union may convert into a federal credit union with the approval of the administrator of the national credit union administration and by the affirmative vote of a majority of the credit union’s members who vote on the proposal, according to the provisions of section 533.203.
2. The board of directors of the state credit union shall notify the superintendent of any proposed conversion and of any abandonment or disapproval of the conversion by the members or by the administrator of the national credit union administration. The board of directors of the state credit union shall file with the superintendent appropriate evidence of approval of the conversion by the administrator of the national credit union administration and shall notify the superintendent of the date on which the conversion is to be effective.
3. Upon receipt of satisfactory proof that the state credit union has complied with all applicable laws of this state and of the United States, the superintendent shall issue a certificate of conversion which shall be filed and recorded in the county in which the state credit union has its principal place of business and in the county in which its original articles of incorporation were filed and recorded.
2007 Acts, ch 174, §64; 2012 Acts, ch 1020, §20
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.404 - Dissolution generally.

533.404 Dissolution generally.
The following shall apply to dissolution of a state credit union under this chapter, whether voluntary or involuntary:
1. Distribution of the assets of the state credit union shall be made in the following order:
a. The payment of costs and expense of the administrator of dissolution.
b. The payment of claims for public funds deposited pursuant to chapter 12C and the payment of claims which are given priority by applicable statutes. If the assets are insufficient for payment of the claims in full, priority shall be determined by the statutes or, in the absence of conflicting provisions, on a pro rata basis.
c. The payment of deposits, including accrued interest, up to the date of the special meeting of the members at which voluntary dissolution was authorized, or in the case of involuntary dissolution, the date of appointment of a receiver.
d. The pro rata apportionment of the balance among the members of record on the date of the special meeting of the members at which voluntary dissolution was authorized, or in the case of involuntary dissolution, the members of record on the date of appointment of a receiver.
2. All amounts due members who are unknown, or who are under a disability and no person is legally competent to receive the amounts, or who cannot be found after the exercise of reasonable diligence, shall be transmitted to the treasurer of state who shall hold the amounts in the manner prescribed by chapter 556. All amounts due creditors as described in section 490.1440 shall be transmitted to the treasurer of state in accordance with that section, shall be retained by the treasurer of state, and are subject to claim as provided for in that section.
3. The superintendent shall assume custody of the records of a state credit union dissolved pursuant to this chapter and shall retain the records which, in the superintendent’s discretion, are deemed necessary, in accordance with the provisions of section 533.322. The superintendent may cause film, photographic, photostatic, or other copies of the records to be made and the superintendent shall retain the copies in lieu of the original records.
2007 Acts, ch 174, §65; 2011 Acts, ch 34, §127; 2013 Acts, ch 17, §6
Referred to in §12C.23, 533.314, 533.405, 533.405A
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.405A - Involuntary dissolution.

533.405A Involuntary dissolution.
1. If the superintendent has taken over management of the property and business of a state credit union pursuant to section 533.502, and determined that the state credit union cannot be reorganized or merged with another credit union, the superintendent may move for the involuntary dissolution of the state credit union and shall apply to the district court for appointment as receiver with the authority to dissolve the state credit union.
2. If a state credit union is in the process of a voluntary dissolution, and pursuant to section 533.405, the superintendent finds that the state credit union is not making reasonable progress toward terminating its affairs, the superintendent may move for the involuntary dissolution of the state credit union and shall apply to the district court for appointment as receiver with the authority to dissolve the state credit union.
3. The provisions of section 533.503 shall apply when the superintendent is acting as receiver, and as receiver the superintendent shall distribute the assets pursuant to the provisions of section 533.404.
2014 Acts, ch 1011, §5
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.406 - State credit union merger, conversion, or dissolution.

533.406 State credit union merger, conversion, or dissolution.
Notwithstanding section 533.301, subsection 25, a state credit union shall comply with the state law requirements for merger, conversion, or dissolution of a state credit union.
2007 Acts, ch 174, §67
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.503 - Superintendent as receiver.

533.503 Superintendent as receiver.
1. In all situations in which the superintendent has been appointed as receiver as provided in this chapter, the superintendent shall make a diligent effort to collect and realize on the assets of the state credit union, and shall make distribution of the proceeds from time to time to those entitled in the order provided for by law.
a. The superintendent may execute as receiver, or after the receivership has terminated, assignments, releases, and satisfactions to effectuate sales and transfers.
b. Upon the order of the court in which the receivership is pending, the superintendent may sell or compound all bad or doubtful debts.
c. Upon the order of the court in which the receivership is pending, the superintendent may sell all the real and personal property of the state credit union, on such terms as the court shall direct.
2. All expenses of the receivership and dissolution shall be determined by the superintendent, subject to the approval of the district court, and shall be paid out of the assets of the state credit union.
3. The superintendent as receiver may sue and defend in the superintendent’s name with respect to the affairs of a state credit union.
4. At the completion of the receivership, the superintendent shall file a final report which shall contain details of receivership activity and such additional facts as the court may require.
5. a. Upon the submission and approval of the final report, the court shall enter a decree dissolving the state credit union and discharging the receiver, at which time the existence of the state credit union shall cease.
b. The clerk of the district court shall file and record certified copies of the decree with the county recorder of the county in which the state credit union has its principal place of business and with the county recorder of the county in which its original articles of incorporation were filed and recorded. A fee shall not be charged by the county recorder for the filing or recording of such decree.
6. The superintendent as receiver shall hold all records of the receivership for a period of two years after the court decree dissolving the state credit union and discharging the receiver, and at the termination of the two-year period, the records may then be destroyed.
2007 Acts, ch 174, §70; 2014 Acts, ch 1011, §6
Referred to in §533.405A, 602.8102(73)
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.504 - Tender of receivership to insurance plan.

533.504 Tender of receivership to insurance plan.
1. a. The superintendent may tender to the administrator of an account insurance plan approved under this chapter the appointment as receiver for an insured state credit union.
b. If the insurance plan administrator accepts the appointment as receiver, the rights of the members and other creditors of the insured state credit union shall be determined in accordance with the laws of this state and the insurance plan administrator shall comply with all applicable provisions of this chapter.
2. The administrator of an account insurance plan as receiver shall possess the powers, rights, and privileges given to the superintendent as provided by law.
3. If the administrator of an account insurance plan pays or makes available for payment the insured liabilities of a state credit union, the administrator shall be subrogated by operation of law to all rights of the members against the insured state credit union in the same manner and to the same extent as subrogation is provided for in applicable laws in the case of a closed federal credit union.
2007 Acts, ch 174, §71
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.505 - Subpoena — contempt.

533.505 Subpoena — contempt.
1. The superintendent or the superintendent’s designee may subpoena witnesses, compel their attendance, administer an oath, examine any person under oath, and require the production of any relevant record related to any period of examination, or related to any report or filing made by or provided to the credit union division.
2. An examination may be conducted on any subject relating to the duties imposed upon or powers vested in the superintendent.
3. Whenever a person subpoenaed pursuant to subsection 1 fails to produce a record or to give testimony as required by the terms of the subpoena, the superintendent may apply to the district court of Polk county for the enforcement of the subpoena or the issuance of an order compelling compliance.
4. The refusal of any person to obey an order of the district court issued pursuant to subsection 3, without reasonable cause, shall be considered a contempt of court.
2007 Acts, ch 174, §72; 2011 Acts, ch 34, §128; 2019 Acts, ch 36, §1
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.506 - Limitation of actions.

533.506 Limitation of actions.
1. All causes of action against a state credit union based upon a claim or claims inconsistent with an entry or entries in a state credit union record or ledger, made in the regular course of business, shall be deemed to have accrued, and shall accrue, one year after the date of such entry or entries.
2. An action founded upon such a cause shall not be brought after the expiration of ten years from the date of such accrual.
2007 Acts, ch 174, §73
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.507 - False statements for credit — fraudulent practice.

533.507 False statements for credit — fraudulent practice.
A person who knowingly makes or causes to be made, directly or indirectly, any false statement in writing, or who procures, knowing that a false statement in writing has been made concerning the financial condition or means or ability to pay of such person or any other person in which such person is interested or for whom such person is acting with the intent that such statement shall be relied upon by a state credit union for the purpose of procuring the delivery of property, the payment of cash, or the receipt of credit in any form, for the benefit of such person or of any other person in which such person is interested or for whom such person is acting, is guilty of a fraudulent practice.
2007 Acts, ch 174, §74
Fraudulent practices, see §714.8 – 714.14
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.508 - False statements — penalties.

533.508 False statements — penalties.
1. A director, officer, or employee of a state credit union shall not intentionally publish, disseminate, or distribute any advertising or notice containing any false, misleading, or deceptive statements concerning rates, terms, or conditions on which loans are made, or deposits or share installments are received, or concerning any charge which the state credit union is authorized to impose pursuant to this chapter, or concerning the financial condition of the state credit union. Any director, officer, or employee of a state credit union who violates the provisions of this subsection is guilty of a fraudulent practice.
2. Any person who maliciously or with intent to deceive makes, publishes, utters, repeats, or circulates any false statement concerning any state credit union which imputes or tends to impute insolvency, unsound financial condition or financial embarrassment, or which may tend to cause or provoke or aid in causing or provoking a general withdrawal of deposits from such state credit union, or which may otherwise injure or tend to injure the business or goodwill of such state credit union, is guilty of a simple misdemeanor.
2007 Acts, ch 174, §75; 2020 Acts, ch 1063, §307
Fraudulent practices, see §714.8 – 714.14
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.509 - Penalty for falsification.

533.509 Penalty for falsification.
A director, officer, agent, or employee of a state credit union, a credit union service organization, or any other person who knowingly signs, makes, or consents to another person making any false statement or false entry in the books of the state credit union or credit union service organization, or knowingly signs, makes, or consents to the making of any false report regarding a state credit union or credit union service organization, or knowingly diverts the funds of the state credit union, is guilty of a class “C” felony and is forever after barred from holding any office or position in a state credit union or credit union service organization.
2007 Acts, ch 174, §76
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533 - CREDIT UNIONS › Section 533.510 - Submissions to credit union division — good faith requirement.

533.510 Submissions to credit union division — good faith requirement.
Any information, record, application, or document provided to the credit union division pursuant to this chapter shall be provided in good faith. A director, officer, agent, or employee of a state credit union, a credit union service organization, or any other person shall not intentionally publish, report, submit, file, or cause to be filed with the division any information, record, application, or document that is false or misleading by statement or omission. Any information, record, application, or document provided to the division in the absence of good faith or in violation of this section is subject to revocation of prior approval or denial, if applicable.
2019 Acts, ch 35, §1
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533A - DEBT MANAGEMENT › Section 533A.1 - Definitions.

533A.1 Definitions.
As used in this chapter:
1. “Creditor” means a person who grants credit, a person who takes assignment of the rights to payments of a person who grants credit, or a person for whose benefit moneys are being collected and distributed by a licensee.
2. “Debt management” means, when done for a fee, any of the following:
a. Arranging or negotiating, or attempting to arrange or negotiate, the amount or terms of debt owed by a debtor to a creditor.
b. Receiving from a debtor, directly or indirectly, money or evidences thereof for the purposes of distributing the same to one or more creditors of the debtor in payment or partial payment of the debtor’s obligations.
c. Serving as an intermediary between a debtor and one or more creditors of the debtor for the purpose of obtaining concessions from the creditors.
d. Engaging in debt settlement.
e. Serving as an intermediary between a debtor and one or more creditors or loan servicers of the debtor for the purpose of seeking modification of the terms of an educational loan.
3. “Debt settlement” means seeking to settle the amount of a debtor’s debts with creditors for less than the amounts owed on the debts.
4. “Debtor” means any natural person.
5. “Donation” means money given by the debtor to a licensee as a gift for debt management and outside of the debt management contract.
6. “Educational loan” means the same as defined in section 261F.1.
7. “Fee” means the moneys paid by the debtor to the licensee as payment for debt management and shall not include money paid to the licensee or held by the licensee for distribution to a creditor, a distribution to the debtor as a refund, or a donation.
8. “Gratuitous debt-management service” means debt management without charging a fee.
9. “Licensee” means any person licensed under this chapter.
10. “Loan servicer” means a person who is engaged in the direct collection of payments on a loan from the debtor or holds the right to undertake direct collection of payments on a loan from the debtor, including but not limited to receiving scheduled periodic payments from the debtor pursuant to the terms of the loan or holding the right to service the loan, such as by contracting with or otherwise arranging for another person to service the loan.
11. “Natural person” means an individual who is not an association, joint venture or joint stock company, partnership, limited partnership, business corporation, nonprofit corporation, other business entity, or any group of individuals or business entities, however organized.
12. “Office” means each location by street number, building number, city, and state where any person engages in debt management.
13. “Person” means an individual, an association, joint venture or joint stock company, partnership, limited partnership, business corporation, nonprofit corporation, or any other group of individuals however organized.
14. “Superintendent” means the superintendent of banking.
[C71, 73, 75, 77, 79, 81, §533A.1]
2006 Acts, ch 1042, §1; 2009 Acts, ch 34, §1; 2020 Acts, ch 1067, §1, 2
Referred to in §533A.8A
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533A - DEBT MANAGEMENT › Section 533A.3 - Investigation.

533A.3 Investigation.
1. Upon the filing of each application and the payment of the fees, the superintendent shall conduct an investigation of the facts concerning the application and the requirements provided in subsection 3.
2. The superintendent shall grant or deny each application for a license within sixty days from the date that the application and the required fee are filed and paid, unless the period is extended by written agreement between the applicant and the superintendent.
3. a. The superintendent shall enter an order granting the application, and issue and deliver a license to the applicant if the superintendent finds that both of the following are satisfied:
(1) The experience, financial responsibility, character, and general fitness of the applicant is sufficient as to command the confidence of the public and to warrant belief that the business will be operated lawfully, honestly, fairly, and efficiently within the purposes of this chapter.
(2) The applicant has not been convicted of or pled guilty to a felony or an indictable misdemeanor for financial gain, or has not had a record of having defaulted in payment of money collected for others, including the discharge of such debts through bankruptcy proceedings.
b. If the applicant is not a natural person, this subsection shall apply to the owners, partners, members, shareholders, officers, directors, and managers of the applicant.
4. If the applicant has, at the time of the application, a license for an office located within ten miles of the location of the office named in the application, a license shall not be issued unless the superintendent finds that public convenience will be served by the issuance of the license.
5. A license shall not be transferable or assignable.
6. If the superintendent finds the applicant not qualified under subsection 3, the superintendent shall enter an order denying the application and notify the applicant of the denial, returning the license fee. Within fifteen days after the entry of such order, the superintendent shall prepare written findings and shall deliver a copy to the applicant.
[C71, 73, 75, 77, 79, 81, §533A.3]
2006 Acts, ch 1042, §3
Referred to in §533A.15
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533A - DEBT MANAGEMENT › Section 533A.4 - Expiration date.

533A.4 Expiration date.
The license issued under this chapter shall expire on December 31 following its issuance unless sooner surrendered, revoked, or suspended, but may be renewed as provided in this chapter.
[C71, 73, 75, 77, 79, 81, §533A.4]
2013 Acts, ch 5, §4
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533A - DEBT MANAGEMENT › Section 533A.5 - Renewal.

533A.5 Renewal.
1. To continue in the business of debt management, each licensee shall annually apply on or before December 1 to the superintendent for renewal of its license. The superintendent may assess a late fee of ten dollars per day for applications submitted and accepted for processing after December 1.
2. The renewal application shall be on the form prescribed by the superintendent and shall be accompanied by a fee of two hundred fifty dollars. A separate renewal application shall be made for each office maintained by the applicant.
[C71, 73, 75, 77, 79, 81, §533A.5]
2006 Acts, ch 1042, §4; 2007 Acts, ch 126, §93; 2013 Acts, ch 5, §5
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533A - DEBT MANAGEMENT › Section 533A.5A - Change in control — name or address.

533A.5A Change in control — name or address.
1. The prior written approval of the superintendent is required whenever a change in the control of a licensee is proposed. For purposes of this section, “control” in the case of a corporation means direct or indirect ownership, or the right to control, ten percent or more of the voting shares of the corporation, or the ability of a person to elect a majority of the directors or otherwise effect a change in policy. “Control” in the case of any other entity means the principals of the organization whether active or passive. The superintendent may require information deemed necessary to determine whether a new application is required. When requesting approval, the person shall submit a fee of one hundred dollars to the superintendent.
2. A licensee shall notify the superintendent and submit a fee of twenty-five dollars per license to the superintendent thirty days in advance of the effective date of any of the following:
a. A change in the name of the licensee.
b. A change in the address where the business is conducted.
2006 Acts, ch 1042, §5
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533A - DEBT MANAGEMENT › Section 533A.7 - Disciplinary action.

533A.7 Disciplinary action.
1. The superintendent may, after notice and hearing pursuant to chapter 17A, take disciplinary action against a licensee if the superintendent finds any of the following:
a. The licensee, or an owner, partner, member, shareholder, officer, director, or manager of the licensee, has been convicted of a felony or of an indictable misdemeanor for financial gain.
b. The licensee, or an owner, partner, member, shareholder, officer, director, or manager of the licensee, has violated any of the provisions of this chapter or any other state or federal law, rule, or regulation applicable to the conduct of its business.
c. The licensee, or an owner, partner, member, shareholder, officer, director, or manager of the licensee, has engaged in fraud or deceit in procuring the issuance of a license or renewal under this chapter.
d. The licensee, or an owner, partner, member, shareholder, officer, director, or manager of the licensee, has engaged in unfair conduct.
e. The licensee is insolvent, or has filed for bankruptcy, receivership, or assignment for the benefit of creditors.
f. The licensee fails to post the bond required by the provisions of this chapter or the superintendent receives notice that the required bond has been canceled.
2. The superintendent may impose one or more of the following disciplinary actions against a licensee:
a. Revoke a license.
b. Suspend a license until further order of the superintendent for a specified period of time.
c. Impose a period of probation under specified conditions.
d. Impose civil penalties in an amount not to exceed five thousand dollars for each violation.
e. Issue a citation and warning respecting licensee behavior.
f. Order the licensee to pay restitution.
3. The superintendent may order an emergency suspension of a licensee’s license pursuant to section 17A.18A. A written order containing the facts or conduct which warrants the emergency action shall be timely sent to the licensee by restricted certified mail. Upon issuance of the suspension order, the licensee must also be notified of the right to an evidentiary hearing. A suspension proceeding shall be promptly instituted and determined.
4. Except as provided in this section, a license shall not be revoked or suspended except after notice and a hearing thereon in accordance with chapter 17A.
5. A licensee may surrender a license by delivering to the superintendent written notice of surrender, but a surrender does not affect the licensee’s civil or criminal liability for acts committed before the surrender.
6. A revocation, suspension, or surrender of a license does not impair or affect the obligation of a preexisting lawful contract between the licensee and any person, including a debtor.
[C71, 73, 75, 77, 79, 81, §533A.7]
2006 Acts, ch 1042, §6; 2008 Acts, ch 1160, §10
Referred to in §533A.15
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533A - DEBT MANAGEMENT › Section 533A.9A - Donations.

533A.9A Donations.
A donation shall not be charged to a debtor or creditor, deducted from a payment to a creditor, deducted from the debtor’s account, or deducted from payments made to the licensee pursuant to the debt management contract. If a licensee requests a donation from a debtor, the licensee must clearly indicate that any donation is voluntary and not a condition or requirement for providing debt management.
2006 Acts, ch 1042, §8; 2007 Acts, ch 126, §94
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533A - DEBT MANAGEMENT › Section 533A.13 - License mandatory to business.

533A.13 License mandatory to business.
It shall be unlawful for a person to engage in the business of debt management without first obtaining a license as required by this chapter. Any person or any owner, partner, member, officer, director, employee, agent, or representative thereof who shall willfully or knowingly engage in the business of debt management without the license required by this chapter shall be guilty of a serious misdemeanor.
[C71, 73, 75, 77, 79, 81, §533A.13]
2006 Acts, ch 1042, §11
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533A - DEBT MANAGEMENT › Section 533A.14 - Fees to state treasurer.

533A.14 Fees to state treasurer.
All moneys received by the superintendent from fees, licenses, and examinations pursuant to this chapter shall be deposited by the superintendent with the treasurer of state for deposit in the department of commerce revolving fund created in section 546.12.
[C71, 73, 75, 77, 79, 81, §533A.14]
2009 Acts, ch 181, §105
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533A - DEBT MANAGEMENT › Section 533A.15 - Judicial review.

533A.15 Judicial review.
Judicial review of actions of the superintendent pursuant to sections 533A.3 and 533A.7 may be sought in accordance with the terms of the Iowa administrative procedure Act, chapter 17A.
[C71, 73, 75, 77, 79, 81, §533A.15]
2003 Acts, ch 44, §114
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533A - DEBT MANAGEMENT › Section 533A.16 - Violations — injunctions — civil penalties.

533A.16 Violations — injunctions — civil penalties.
1. If the superintendent believes that a person has engaged in, or is about to engage in, an act or practice that constitutes or will constitute a violation of this chapter, the superintendent may apply to the district court for an order enjoining such act or practice. Upon a showing by the superintendent that such person has engaged, or is about to engage, in any such act or practice, the district court shall grant an injunction.
2. The superintendent may investigate or initiate complaints against persons who are not licensed under this chapter to determine whether the person is violating this chapter.
3. In addition to or as an alternative to applying to the district court for an injunction, the superintendent may issue an order to a person who is not licensed under this chapter to require compliance with this chapter, may impose a civil penalty against such person for any violation of this chapter in an amount up to five thousand dollars for each violation, and may order the person to pay restitution.
4. Before issuing an order under this section, the superintendent shall provide the person written notice and the opportunity to request a hearing. The hearing must be requested within thirty days after receipt of the notice and shall be conducted in the same manner as provided for in disciplinary proceedings involving a licensee under this chapter.
5. A person aggrieved by the imposition of a civil penalty under this section may seek judicial review pursuant to section 17A.19.
6. An action to enforce an order under this section may be joined with an action for an injunction.
2008 Acts, ch 1160, §11
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533A - DEBT MANAGEMENT › Section 533A.17 - Waiver not allowed.

533A.17 Waiver not allowed.
A waiver by a debtor of the provisions of this chapter is void and unenforceable as contrary to public policy. An attempt by a licensee to induce a debtor to waive the debtor’s rights is a violation of this chapter.
2009 Acts, ch 34, §8
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533C - UNIFORM MONEY SERVICES ACT › Section 533C.103 - Exclusions.

533C.103 Exclusions.
This chapter does not apply to:
1. The United States or a department, agency, or instrumentality thereof.
2. A money transmission by the United States postal service or by a contractor on behalf of the United States postal service.
3. A state, county, city, or any other governmental agency or governmental subdivision of a state.
4. The following entities whether chartered or organized under the laws of a state or of the United States: a bank, bank holding company, savings and loan association, savings bank, credit union, office of an international banking corporation, branch of a foreign bank, corporation organized pursuant to the federal Bank Service Company Act, 12 U.S.C. §1861 – 1867, or corporation organized under the federal Edge Act, 12 U.S.C. §611 – 633.
5. Electronic funds transfer of governmental benefits for a federal, state, county, or governmental agency by a contractor on behalf of the United States or a department, agency, or instrumentality thereof, or a state or governmental subdivision, agency, or instrumentality thereof.
6. A board of trade designated as a contract market under the federal Commodity Exchange Act, 7 U.S.C. §1 – 25, or a person that, in the ordinary course of business, provides clearance and settlement services for a board of trade to the extent of its operation as or for such a board.
7. A registered futures commission merchant under the federal commodities laws to the extent of its operation as such a merchant.
8. A person that provides clearance or settlement services pursuant to a registration as a clearing agency or an exemption from such registration granted under the federal securities laws to the extent of its operation as such a provider.
9. An operator of a payment system to the extent that it provides processing, clearing, or settlement services, between or among persons excluded by this section, in connection with wire transfers, credit card transactions, debit card transactions, stored-value transactions, automated clearing house transfers, or similar funds transfers.
10. A person registered as a securities broker-dealer under federal or state securities laws to the extent of its operation as such a broker-dealer.
11. A delayed deposit services business as defined in chapter 533D.
12. A real estate broker or salesperson as defined in chapter 543B.
13. Pari-mutuel wagering, racetracks, excursion gambling boats, and gambling structures as provided in chapters 99D and 99F.
14. A person engaging in the business of debt management that is licensed or exempt from licensing pursuant to section 533A.2.
15. An insurance company organized under chapter 508, 514, 514B, 515, 518, 518A, or 520, or authorized to do the business of insurance in Iowa to the extent of its operation as an insurance company.
16. An insurance producer as defined in section 522B.1 to the extent of its operation as an insurance producer.
2003 Acts, ch 96, §3, 42; 2004 Acts, ch 1101, §76; 2007 Acts, ch 188, §20
Referred to in §533A.2
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533C - UNIFORM MONEY SERVICES ACT › Section 533C.201 - License required.

533C.201 License required.
1. A person shall not engage in the business of money transmission or advertise, solicit, or hold itself out as providing money transmission unless the person:
a. Is licensed under this article; or
b. Is an authorized delegate of a person licensed under this article.
2. A license under this article is not transferable or assignable.
2003 Acts, ch 96, §4, 42; 2004 Acts, ch 1101, §77
Referred to in §533C.707
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533C - UNIFORM MONEY SERVICES ACT › Section 533C.203 - Security.

533C.203 Security.
1. Except as otherwise provided in subsection 2, a surety bond, letter of credit, or other similar security acceptable to the superintendent in the amount of fifty thousand dollars plus ten thousand dollars per location, not exceeding a total addition of three hundred thousand dollars, must accompany an application for a license. If the licensee has no locations in this state, the superintendent shall set the bond amount not to exceed three hundred thousand dollars.
2. Security must be in a form satisfactory to the superintendent and payable to the state for the benefit of any claimant against the licensee to secure the faithful performance of the obligations of the licensee with respect to money transmission.
3. The aggregate liability on a surety bond shall not exceed the principal sum of the bond. A claimant against a licensee may maintain an action on the bond, or the superintendent may maintain an action on behalf of the claimant.
4. A surety bond must cover claims for so long as the superintendent specifies, but for at least five years after the licensee ceases to provide money services in this state. However, the superintendent may permit the amount of security to be reduced or eliminated before the expiration of that time to the extent the amount of the licensee’s payment instruments or stored-value obligations outstanding in this state is reduced. The superintendent may permit a licensee to substitute another form of security acceptable to the superintendent for the security effective at the time the licensee ceases to provide money services in this state.
5. In lieu of the security prescribed in this section, an applicant for a license or a licensee may provide security in a form prescribed by the superintendent.
6. The superintendent may increase the amount of security required to a maximum of one million dollars if the financial condition of a licensee so requires, as evidenced by reduction of net worth, financial losses, or other relevant criteria.
2003 Acts, ch 96, §6, 42
Referred to in §533C.204, 533C.205
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533C - UNIFORM MONEY SERVICES ACT › Section 533C.204 - Issuance of license.

533C.204 Issuance of license.
1. When an application is filed under this article, the superintendent shall investigate the applicant’s financial condition and responsibility, financial and business experience, character, and general fitness. The superintendent may conduct an on-site investigation of the applicant, the reasonable cost of which the applicant must pay. The superintendent shall issue a license to an applicant under this article if the superintendent finds that all of the following conditions have been fulfilled:
a. The applicant has complied with sections 533C.202, 533C.203, and 533C.206.
b. The applicant has not been convicted of or pled guilty to a felony or an indictable misdemeanor for financial gain within the past ten years.
c. The applicant has paid a fee set by the department of public safety, division of criminal investigation, to defray the costs associated with the search of criminal history records of the applicant. If the applicant is a corporation, the applicant shall pay the fee associated with a criminal history record check for the directors and officers of the corporation. If the applicant is a partnership, the applicant shall pay the fee associated with a criminal history record check for each of the partners. The superintendent may require the applicant to provide additional information from the applicant if the department of public safety records indicate that a person with the same name has a criminal history. If the applicant is a publicly traded corporation or a subsidiary or affiliate of a publicly traded corporation, no criminal history record check shall be required.
2. When an application for an original license under this article is complete, the superintendent shall promptly notify the applicant of the date on which the application was determined to be complete and the superintendent shall approve or deny the application within one hundred twenty days after that date.
3. The superintendent may for good cause extend the application period.
4. An applicant whose application is denied by the superintendent under this article may appeal, within thirty days after receipt of the notice of the denial, from the denial and request a hearing. The denial of a license shall not be deemed a contested case.
2003 Acts, ch 96, §7, 42; 2005 Acts, ch 35, §31
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533C - UNIFORM MONEY SERVICES ACT › Section 533C.205 - Renewal of license.

533C.205 Renewal of license.
1. A licensee under this article shall pay an annual renewal fee as determined below by no later than December 1 of the year of expiration. The renewal fee shall be five hundred dollars plus an additional ten dollars for each location in this state at which business is conducted through authorized delegates or employees of the licensee, but shall not exceed five thousand dollars. Fees for locations added after submission of the renewal application shall be submitted with the quarterly reports pursuant to section 533C.503, subsection 2. If the licensee has no locations in this state at which business is conducted through authorized delegates or employees of the licensee, the license fee shall be set by the superintendent, but shall not exceed five thousand dollars.
2. A licensee under this article shall submit a renewal report with the renewal fee, in a form prescribed by the superintendent. The renewal report must state or contain:
a. A copy of the licensee’s most recent audited annual financial statement or, if the licensee is a wholly owned subsidiary of another corporation, the most recent audited consolidated annual financial statement of the parent corporation or the licensee’s most recent audited consolidated annual financial statement.
b. The number and monetary amount of payment instruments sold by the licensee in this state which have not been included in a renewal report, and the monetary amount of payment instruments and stored-value currently outstanding.
c. A description of each material change in information submitted by the licensee in its original license application which has not been reported to the superintendent on any required report.
d. A list of the licensee’s permissible investments and a certification that the licensee continues to maintain permissible investments according to the requirements set forth in sections 533C.601 and 533C.602.
e. Proof that the licensee continues to maintain adequate security as required by section 533C.203; and
f. A list of the locations in this state where the licensee or an authorized delegate of the licensee engages in money transmission or provides other money services.
3. If a licensee does not file a renewal report or pay its renewal fee by December 1, or any extension of time granted by the superintendent, the superintendent may assess a late fee of one hundred dollars per day.
2003 Acts, ch 96, §8, 42; 2013 Acts, ch 5, §9
2023 Iowa Code › Title XIII - COMMERCE › Chapter 533C - UNIFORM MONEY SERVICES ACT › Section 533C.206 - Net worth.

533C.206 Net worth.
A licensee under this article shall maintain a net worth of at least one hundred thousand dollars plus ten thousand dollars per authorized delegate not to exceed five hundred thousand dollars determined in accordance with generally accepted accounting principles. If the licensee has no locations in this state at which business is conducted through authorized delegates or employees of the licensee, the minimum net worth, not to exceed five hundred thousand dollars, shall be set by the superintendent.
2003 Acts, ch 96, §9, 42
Referred to in §533C.204