533.112 Annual and individual fees — examination fees — delinquencies.
1. Each state credit union shall pay an annual fee for examination and supervision as determined by the superintendent based on the actual cost of operating the credit union division.
a. The cost of operating the credit union division shall include but not be limited to costs and expenses for salaries and benefits, expenses and travel for employees, office facilities, supplies, equipment, and administrative costs and expenses incurred in the discharge of the duties imposed on the superintendent under this chapter.
b. (1) The cost of operating the credit union division shall also include but not be limited to the costs incurred due to additional time and other division resources required for any of the following:
(a) Performing services for the credit union that are customarily performed by the credit union.
(b) Performing services related to a particular examination that exceed estimates for an individual credit union’s examination based on factors including but not limited to the asset size of the credit union, the complexity of transactions to be examined, and the examination history of the credit union.
(2) An individual fee assessment for such costs incurred under this paragraph “b” may be made in addition to a credit union’s annual fee.
c. In establishing the structure of the fee schedule, the superintendent shall consider recommendations from the review board and from state credit unions.
d. The annual fee may be paid in one or more installments, as provided by rule by the superintendent.
2. Each corporation, credit union service organization, or other person subject to an examination pursuant to section 533.113 shall pay an examination fee as determined by the superintendent, which shall reflect but not be limited to the time required for the examination and the costs of the examination.
a. The costs of the examination shall include but not be limited to costs and expenses for salaries and benefits, expenses and travel for employees, office facilities, supplies, equipment, and administrative costs and expenses incurred in the discharge of duties imposed upon the superintendent under this chapter.
b. The examination fee shall be due within thirty days of presentation of the fee statement to the corporation, credit union service organization, or other person examined by the division.
3. In addition to the annual fee and examination fee assessed pursuant to this section, the division may also assess a credit union, credit union service organization, corporation, or other person subject to an examination pursuant to section 533.113 for the expense of accountants, investigators, and other experts reasonably necessary to assist in the conduct of the examination, pursuant to section 533.113, subsection 1.
4. a. Failure of a state credit union, corporation, credit union service organization, or other person to pay a fee pursuant to subsection 1, 2, or 3 shall result in the fee being considered delinquent and a penalty equal to five percent of the original fee may be assessed for each day or part of a day the payment remains delinquent.
b. A fee delinquency under this subsection by a corporation, credit union service organization, or other person may result in the superintendent collecting the delinquent fee and penalty from the state credit union owning shares or investments or having business transactions or a relationship with such corporation, credit union service organization, or other person.
c. A fee delinquency under this subsection may also constitute grounds for revocation of the certificate of approval of the credit union to operate in this state.
2007 Acts, ch 174, §12; 2012 Acts, ch 1020, §2
Referred to in §533.330
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.