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, general counsel, and all examiners assigned to the finance company bureau are prohibited from obtaining a loan of money or property from a person or entity licensed pursuant to chapter 533A, 533D, 536, or 536A, or a person or entity affiliated with such licensee.
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 person or entity licensed or registered pursuant to chapter 535B or 536C, is prohibited from participating in decisions, oversight, and official review of matters concerning the regulation of the licensee or registrant.
4. An assistant to the superintendent, a bank examination analyst, or an examiner assigned to the bank bureau of the banking division who has credit relations with a person or entity licensed pursuant to chapter 533A, 533D, 536, or 536A, or with a person or entity affiliated with such licensee, is prohibited from participating in decisions, oversight, and official review of matters concerning the regulation of the licensee.
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; 96 Acts, ch 1056, § 3
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