§ 533.101 Title
§ 533.102 Definitions
§ 533.103 Credit union division created
§ 533.104 Superintendent
§ 533.105 Deputy superintendent
§ 533.106 Employees
§ 533.106A Background investigations
§ 533.107 Credit union review board
§ 533.108 Records of credit union division
§ 533.109 Insurance and surety bond
§ 533.110 Reimbursement of expenses
§ 533.111 Expenses of the credit union division
§ 533.112 Annual and individual fees — examination fees — delinquencies
§ 533.113 Examinations
§ 533.113A Meetings of the board called by superintendent
§ 533.114 Annual report of superintendent
§ 533.115 Reciprocity
§ 533.115A Conducting business outside of state
§ 533.116 Enforcement of Iowa consumer credit code
§ 533.117 Small loans legislation
§ 533.201 Organization
§ 533.201A Change in place of business
§ 533.202 Common bond — membership — ownership share
§ 533.203 Fiscal year — membership meetings — voting by membership — notice
§ 533.203A Vote to modify, amend, or reverse act of board of directors — instruction to take action
§ 533.204 Election of board
§ 533.205 Board of directors — duties — penalties
§ 533.206 Meetings of the board
§ 533.207 Credit committee
§ 533.208 Auditing committee
§ 533.209 Conflicts of interest
§ 533.209A Prohibited relationships
§ 533.210 Expulsion or withdrawal of credit union member
§ 533.211 Suspension or restriction of services
§ 533.212 Use of name “credit union” requirements — restrictions — exceptions
§ 533.213 Corporate central credit union
§ 533.214 Central credit unions
§ 533.301 Powers
§ 533.302 Capital
§ 533.303 Reserves
§ 533.304 Investment in certain shares or equity interests
§ 533.305 Investment in banks or savings banks — required findings
§ 533.306 Power to borrow
§ 533.307 Account insurance
§ 533.308 Fidelity bond and general insurance coverage
§ 533.309 Share accounts
§ 533.310 Deposits in the names of two or more individuals
§ 533.311 Acceptance of deposits and investments while insolvent
§ 533.312 Dividends and interest
§ 533.313 Share drafts
§ 533.314 Payment of share drafts during dissolution
§ 533.315 Loans
§ 533.316 Interest rates
§ 533.317 Authority to lease safe deposit boxes
§ 533.318 Safe deposit box access
§ 533.319 Adverse claims to property in safe deposit and safekeeping
§ 533.320 Remedies and proceedings for nonpayment of rent on safe deposit box
§ 533.321 Authority to receive property for safekeeping
§ 533.322 Preservation of records
§ 533.323 Photographic records
§ 533.324 Preservation of records — statute of limitations
§ 533.325 Confidentiality of state credit union information
§ 533.326 Governmental employees
§ 533.329 Taxation
§ 533.330 Reports
§ 533.331 Data breach — duty to notify
§ 533.401 Merger
§ 533.402 Conversion of financial institution to state credit union
§ 533.403 Conversion of state credit union into federal credit union
§ 533.404 Dissolution generally
§ 533.405 Voluntary dissolution
§ 533.405A Involuntary dissolution
§ 533.406 State credit union merger, conversion, or dissolution
§ 533.501 Supervisory action
§ 533.502 Grounds for management of state credit union by superintendent
§ 533.503 Superintendent as receiver
§ 533.504 Tender of receivership to insurance plan
§ 533.505 Subpoena — contempt
§ 533.506 Limitation of actions
§ 533.507 False statements for credit — fraudulent practice
§ 533.508 False statements — penalties
§ 533.509 Penalty for falsification
§ 533.510 Submissions to credit union division — good faith requirement

Terms Used In Iowa Code > Chapter 533 - Credit Unions

  • Account: means the same as defined in section 554. See Iowa Code 554E.1
  • Account insurance plan: means an arrangement providing account and share insurance which is of a type authorized under section 533. See Iowa Code 533.102
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Board: means the engineering and land surveying examining board provided by this chapter. See Iowa Code 542B.2
  • Child: includes child by adoption. See Iowa Code 4.1
  • clerk: means clerk of the court in which the action or proceeding is brought or is pending; and the words "clerk's office" mean the office of that clerk. See Iowa Code 4.1
  • Commissioner: means the commissioner of insurance. See Iowa Code 510.1B
  • Common bond: means the shared characteristic of members of a credit union. See Iowa Code 533.102
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: means the same as defined in section 554D. See Iowa Code 554E.1
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • 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
  • Credit union service organization: means a corporation, limited partnership, or limited liability company organized under state law to provide financial and financial-related services for one or more credit unions, each of which owns part of the capital stock of the credit union service organization, as authorized under section 533. See Iowa Code 533.102
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • deed: is a pplied to an instrument conveying lands, but does not imply a sealed instrument; and the words "bond" and "indenture" do not necessarily imply a seal, and the word "undertaking" means a promise or security in any form. See Iowa Code 4.1
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Deposit account: means the same as defined in section 554. See Iowa Code 554E.1
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Donor: The person who makes a gift.
  • Electronic: means the same as defined in section 554D. See Iowa Code 554E.1
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • executor: includes administrator, and the term "administrator" includes executor, where the subject matter justifies such use. See Iowa Code 4.1
  • Executor: A male person named in a will to carry out the decedent
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
  • financial institution: means any credit union, bank, savings bank, or savings and loan association chartered under federal or state law. See Iowa Code 533.402
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Insurer: means a person duly licensed in this state as an insurance company pursuant to this subtitle. See Iowa Code 510.1B
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • 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.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Money: means the same as defined in section 554. See Iowa Code 554E.1
  • month: means a calendar month, and the word "year" and the abbreviation "A. See Iowa Code 4.1
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • oath: includes affirmation in all cases where an affirmation may be substituted for an oath, and in like cases the word "swear" includes "affirm". See Iowa Code 4.1
  • Oath: A promise to tell the truth.
  • Ownership share: means a share of a credit union acquired by a member at the time membership is initiated. See Iowa Code 533.102
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • property: includes personal and real property. See Iowa Code 4.1
  • Quorum: The number of legislators that must be present to do business.
  • real property: include lands, tenements, hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Iowa Code 4.1
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Record: means the same as defined in section 554D. See Iowa Code 554E.1
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Review board: means the credit union review board. See Iowa Code 533.102
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • Rule: includes "regulation". See Iowa Code 4.1
  • Sale: means any sale, offer for sale, or attempt to sell or lease any land, to the public in this state, for cash or on credit. See Iowa Code 543C.1
  • Signature: includes an electronic signature as defined in section 554D. See Iowa Code 4.1
  • 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
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Subpoena: A command to a witness to appear and give testimony.
  • Superintendent: means the superintendent of credit unions appointed pursuant to section 533. See Iowa Code 533.102
  • Testator: A male person who leaves a will at death.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Transaction: means a sale, trade, exchange, transfer, payment, or conversion of a digital asset or any other property or any other action or set of actions occurring between two or more persons relating to the conduct of business, commercial, or governmental affairs. See Iowa Code 554E.1
  • Trustee: A person or institution holding and administering property in trust.
  • Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
  • United States: includes all the states. See Iowa Code 4.1
  • week: means seven consecutive days. See Iowa Code 4.1
  • year: means twelve consecutive months. See Iowa Code 4.1