Iowa Code 533.115 – Reciprocity
Current as of: 2023 | Check for updates
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1. Subject to rules of the superintendent, a credit union organized in another state may do business in Iowa if state credit unions organized in Iowa may do business in the state in which the out-of-state credit union is organized.
Terms Used In Iowa Code 533.115
- credit union: is a lso a "supervised financial organization" as that term is defined and used in chapter 537, the Iowa consumer credit code. See Iowa Code 533.102
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- State credit union: means a credit union organized pursuant to section 533. See Iowa Code 533.102
- Superintendent: means the superintendent of credit unions appointed pursuant to section 533. See Iowa Code 533.102
2. Notwithstanding subsection 1, an out-of-state credit union shall meet the same deposit insurance requirements established by this chapter for a state credit union prior to doing business in Iowa.