1. The superintendent, deputy superintendent, an assistant to the superintendent, a bank examination analyst, general counsel, or an examiner assigned to the bank bureau of the banking division is prohibited from obtaining a loan of money or property from a state-chartered bank or any person or entity affiliated with a state-chartered bank.
2. The superintendent, deputy superintendent, finance company bureau chief, and all examiners assigned to the finance company bureau are prohibited from obtaining a loan of money or property from a finance company licensed by the banking division.
3. The superintendent, deputy superintendent, an assistant to the superintendent, a bank examination analyst, finance company bureau chief, general counsel, or an examiner of the banking division who has credit relations with a mortgage banking company or credit card company licensed by the banking division is prohibited from participating in decisions, oversight, and official review of matters concerning the regulation of the mortgage banking company or credit card company with which such person has credit relations.
4. An assistant to the superintendent, a bank examination analyst, general counsel, or an examiner assigned to the bank bureau of the banking division who has credit relations with a finance company licensed by the banking division is prohibited from participating in decisions, oversight, and official review of matters concerning the regulation of the finance company with which such person has credit relations.
5. An employee of the banking division, other than the superintendent or a member of the state banking board, shall not perform any services for, and shall not be a shareholder, member, partner, owner, director, officer, or employee of, any enterprise, person, or affiliate subject to the regulatory purview of the banking division.
6. For the purposes of this section and section 524.212, an affiliate of a person other than a state bank shall include any corporation, trust, estate, association or other similar organization:
a. Of which such person, directly or indirectly, owns or controls either a majority of the voting shares or more than fifty percent of the number of shares voted for the election of its directors, trustees, or other individuals exercising similar functions at the preceding election, or controls in any manner the election of a majority of its directors, trustees or other individuals exercising similar functions.
b. Of which control is held, directly or indirectly, through share ownership or in any other manner, by the shareholders of such person who own or control either a majority of the shares of such person or more than fifty percent of the number of shares voted for the election of directors of such person at the preceding election or by trustees for the benefit of the shareholders of any such person.
c. Of which a majority of its directors, trustees, or other individuals exercising similar functions are directors of any one such person.
d. Which owns or controls, directly or indirectly, either a majority of the voting shares of such person or more than fifty percent of the total number of shares voted for the election of directors of such person at the preceding election, or controls in any manner the election of a majority of the directors of such person, or for the benefit of whose shareholders or members all or substantially all of the outstanding voting shares of such person is held by trustees.
7. The superintendent, deputy superintendent, or any assistant or examiner who is convicted of a felony while holding such position shall be immediately discharged from employment and shall be forever disqualified from holding any position in the banking division.
[C97, § 1875, 1876; SS15, § 1875; C24, 27, 31, 35, 39, § 9146; C46, 50, 54, 58, 62, 66, § 524.18; C71, 73, 75, 77, 79, 81, § 524.211; 81 Acts, ch 172, § 1]
95 Acts, ch 148, §11--;13
Referred to in § 524.1611
Iowa General Assembly
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