Iowa Code 533C.205 – Relationship to federal law
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Terms Used In Iowa Code 533C.205
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
533C.205 Relationship to federal law.
1. In the event state money transmission jurisdiction is conditioned on a federal law, any inconsistencies between a provision of this chapter and the federal law governing money transmission shall be governed by the applicable federal law to the extent of the inconsistency.
2. In the event of any inconsistencies between this chapter and a federal law that governs pursuant to subsection 1, the superintendent may provide interpretive guidance that identifies the inconsistency and the appropriate means of compliance with federal law.
2003 Acts, ch 96, §8, 42; 2013 Acts, ch 5, §9; 2023 Acts, ch 83, §9
Section stricken and rewritten
1. In the event state money transmission jurisdiction is conditioned on a federal law, any inconsistencies between a provision of this chapter and the federal law governing money transmission shall be governed by the applicable federal law to the extent of the inconsistency.
2. In the event of any inconsistencies between this chapter and a federal law that governs pursuant to subsection 1, the superintendent may provide interpretive guidance that identifies the inconsistency and the appropriate means of compliance with federal law.
2003 Acts, ch 96, §8, 42; 2013 Acts, ch 5, §9; 2023 Acts, ch 83, §9
Section stricken and rewritten