533.111 Expenses of the credit union division.
1. a. All expenses required in the discharge of the duties and responsibilities imposed upon the credit union division, the superintendent, and the review board by the laws of this state shall be paid from fees provided by the laws of this state and appropriated by the general assembly from the department of commerce revolving fund created in section 546.12.
b. All fees imposed under this chapter are payable to the superintendent, who shall pay all fees and other moneys received to the treasurer of state within the time required by section 12.10. The treasurer of state shall deposit such funds in the department of commerce revolving fund created in section 546.12.
2. The superintendent shall account for receipts and disbursements according to the separate duties imposed upon the superintendent by the laws of this state, and each separate duty shall be fiscally self-sustaining.
3. The credit union division may expend additional funds, including funds for additional personnel, if the additional expenditures are actual expenses that exceed the funds budgeted for credit union examinations and directly result from examinations of state credit unions.
a. The amounts necessary to fund the excess examination expenses shall be collected from state credit unions being regulated, and the collections shall be treated as repayment receipts as defined in section 8.2.
b. The division shall notify in writing the legislative services agency and the department of management when hiring additional personnel. The written notification shall include documentation that any additional expenditure related to such hiring will be totally reimbursed as provided in section 546.12, subsection 2, and shall also include the division’s justification for hiring such personnel. The division must obtain the approval of the department of management only if the number of additional personnel to be hired exceeds the number of full-time equivalent positions authorized by the general assembly.
4. a. All fees and other moneys collected shall be deposited into the department of commerce revolving fund created in section 546.12 and expenses required to be paid under this section shall be paid from moneys in the department of commerce revolving fund and appropriated for those purposes.
b. Funds appropriated to the credit union division shall be subject at all times to the warrant of the director of the department of administrative services, drawn upon written requisition of the superintendent or a designated representative, for the payment of all salaries and other expenses necessary to carry out the duties of the credit union division.
5. The credit union division may accept reimbursement of expenses related to the examination of a state credit union from the national credit union administration or any other guarantor or insurance plan authorized by this chapter. These reimbursements shall be deposited into the department of commerce revolving fund created in section 546.12.
2007 Acts, ch 174, §11; 2009 Acts, ch 181, §104; 2011 Acts, ch 34, §122
Structure Iowa Code
Section 533.102 - Definitions.
Section 533.103 - Credit union division created.
Section 533.104 - Superintendent.
Section 533.105 - Deputy superintendent.
Section 533.106A - Background investigations.
Section 533.107 - Credit union review board.
Section 533.108 - Records of credit union division.
Section 533.109 - Insurance and surety bond.
Section 533.110 - Reimbursement of expenses.
Section 533.111 - Expenses of the credit union division.
Section 533.112 - Annual and individual fees — examination fees — delinquencies.
Section 533.113 - Examinations.
Section 533.113A - Meetings of the board called by superintendent.
Section 533.114 - Annual report of superintendent.
Section 533.115 - Reciprocity.
Section 533.115A - Conducting business outside of state.
Section 533.116 - Enforcement of Iowa consumer credit code.
Section 533.117 - Small loans legislation.
Section 533.201 - Organization.
Section 533.201A - Change in place of business.
Section 533.202 - Common bond — membership — ownership share.
Section 533.203 - Fiscal year — membership meetings — voting by membership — notice.
Section 533.204 - Election of board.
Section 533.205 - Board of directors — duties — penalties.
Section 533.206 - Meetings of the board.
Section 533.207 - Credit committee.
Section 533.208 - Auditing committee.
Section 533.209 - Conflicts of interest.
Section 533.209A - Prohibited relationships.
Section 533.210 - Expulsion or withdrawal of credit union member.
Section 533.211 - Suspension or restriction of services.
Section 533.212 - Use of name “credit union” requirements — restrictions — exceptions.
Section 533.213 - Corporate central credit union.
Section 533.214 - Central credit unions.
Section 533.304 - Investment in certain shares or equity interests.
Section 533.305 - Investment in banks or savings banks — required findings.
Section 533.306 - Power to borrow.
Section 533.307 - Account insurance.
Section 533.308 - Fidelity bond and general insurance coverage.
Section 533.309 - Share accounts.
Section 533.310 - Deposits in the names of two or more individuals.
Section 533.311 - Acceptance of deposits and investments while insolvent.
Section 533.312 - Dividends and interest.
Section 533.313 - Share drafts.
Section 533.314 - Payment of share drafts during dissolution.
Section 533.316 - Interest rates.
Section 533.317 - Authority to lease safe deposit boxes.
Section 533.318 - Safe deposit box access.
Section 533.319 - Adverse claims to property in safe deposit and safekeeping.
Section 533.320 - Remedies and proceedings for nonpayment of rent on safe deposit box.
Section 533.321 - Authority to receive property for safekeeping.
Section 533.322 - Preservation of records.
Section 533.323 - Photographic records.
Section 533.324 - Preservation of records — statute of limitations.
Section 533.325 - Confidentiality of state credit union information.
Section 533.326 - Governmental employees.
Section 533.327 - Change in place of business.
Section 533.328 - Conducting business outside of state.
Section 533.331 - Data breach — duty to notify.
Section 533.402 - Conversion of financial institution to state credit union.
Section 533.403 - Conversion of state credit union into federal credit union.
Section 533.404 - Dissolution generally.
Section 533.405 - Voluntary dissolution.
Section 533.405A - Involuntary dissolution.
Section 533.406 - State credit union merger, conversion, or dissolution.
Section 533.501 - Supervisory action.
Section 533.502 - Grounds for management of state credit union by superintendent.
Section 533.503 - Superintendent as receiver.
Section 533.504 - Tender of receivership to insurance plan.
Section 533.505 - Subpoena — contempt.
Section 533.506 - Limitation of actions.
Section 533.507 - False statements for credit — fraudulent practice.
Section 533.508 - False statements — penalties.
Section 533.509 - Penalty for falsification.
Section 533.510 - Submissions to credit union division — good faith requirement.