2009 Iowa Code
Title 13 - Commerce
Subtitle 2 - Financial Institutions
CHAPTER 524 - BANKS
524.217 - EXAMINATIONS.

        524.217  EXAMINATIONS.
         1.  The superintendent may do all of the following:
         a.  Make or cause to be made an examination of every state
      bank and trust company whenever in the superintendent's judgment such
      examination is necessary or advisable, but in no event less
      frequently than once during each two-year period by either the
      banking division or the appropriate federal banking agency.  During
      the course of each examination of a state bank or trust company,
      inquiry shall be made as to its financial condition, the security
      afforded to those to whom it is obligated, the policies of its
      management, whether the requirements of law have been complied with
      in the administration of its affairs, and such other matters as the
      superintendent may prescribe.
         b.  Make or cause to be made such limited examinations at such
      times and with such frequency as the superintendent deems necessary
      and advisable to determine the condition of any state bank or trust
      company and whether any person has violated any of the provisions of
      this chapter.
         c.  Make or cause to be made an examination of any corporation
      in which the state bank or trust company owns shares.
         d.  Upon application to and order of the district court of
      Polk county, make or cause to be made an examination of any person
      having business transactions or a relationship with any state bank or
      trust company when such examination is deemed necessary and advisable
      in order to determine whether the capital of the state bank or trust
      company is impaired or whether the safety of its deposits has been
      imperiled.  The fee for any such examination shall be paid by the
      state bank or trust company.
         e.  To the extent necessary for the purpose of any examination
      provided for by this section and section 524.1105, examine all
      relevant books, records, accounts, and documents and compel the
      production of the same in the manner prescribed by section 524.214.
         2.  The superintendent may furnish to the federal deposit
      insurance corporation, the federal reserve system, the United States
      department of the treasury, the national credit union administration,
      the federal home loan bank, and financial institution regulatory
      authorities of other states, or to any official or supervising
      examiner of such regulatory authorities, a copy of the report of any
      or all examinations made of any state bank and of any affiliate of a
      state bank.
         3.  A copy of the report of each examination of a state bank or
      trust company shall be transmitted by the superintendent to the board
      of directors of the state bank or trust company except to the extent
      that the report of any such examination may be confidential to the
      superintendent, and each member of the board of directors shall
      furnish to the superintendent, on forms to be supplied by the
      superintendent, a statement that the member has read the report of
      examination.
         4.  All reports of examinations, including any copies of such
      reports, in the possession of any person other than the
      superintendent or employee of the banking division, including any
      state bank or any agency to which any report of such examination may
      be furnished under subsection 2, shall be confidential
      communications, shall not be subject to subpoena from such persons,
      and shall not be published or made public by such persons.
         5.  The report of examination of any affiliate or of any person
      examined as provided for in subsection 1, paragraph "c" or
      "d", shall not be transmitted by the superintendent to any such
      affiliate or person or to any state bank or trust company or to the
      board of directors of any state bank or trust company unless
      authorized or requested by such affiliate or person.
         6.  The superintendent may enter into contractual agreements with
      other state regulators of financial institutions to share examiners
      or to assist in each state's respective examinations.  The division
      of banking shall be reimbursed for any costs incurred when providing
      services to other states pursuant to this subsection.  Any division
      of banking personnel assisting another state with its examination
      shall be covered by the provisions of the other state's tort claims
      act, to the extent permitted by the laws of the other state.  If the
      law of the other state does not extend coverage to the division of
      banking personnel working on the other state's examination, the
      provisions of chapter 669 shall apply.  

         Section History: Early Form

         [R60, § 1637; C73, § 1571; C97, § 1873; S13, § 1873; C24, 27, 31,
      35, § 9231, 9283-g4; C39, § 9231, 9283.47; C46, 50, 54, 58, 62,
      66, § 528.25, 530.4; C71, 73, 75, 77, 79, 81, § 524.217] 

         Section History: Recent Form

         89 Acts, ch 257, §5; 90 Acts, ch 1228, § 2; 92 Acts, ch 1161, § 1;
      95 Acts, ch 148, §16; 2004 Acts, ch 1141, §15; 2006 Acts, ch 1015,
      §2; 2007 Acts, ch 170, §2, 3
         Referred to in § 524.212, 524.219, 537.2305