Iowa Admin. Code r. 187-2.5

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 187-2.5 - Change of location of principal place of business or bank office

(1)Application. A state bank desiring to relocate its principal place of business or a bank office shall submit to the superintendent an "Application to Relocate the Principal Place of Business" or "Application to Relocate a Bank Office," which are available on the division's website or upon request.

(2)Investigation. The superintendent may conduct an investigation as deemed necessary.

(3)Decision. The superintendent shall approve or deny the application within 90 days after the application has been accepted for processing. The decision by the superintendent shall be conveyed in writing to the applicant. If the application is approved, the superintendent shall issue the appropriate authorizations for the conduct of business at the new location.

This rule is intended to implement Iowa Code section 524.312.

Iowa Admin. Code r. 187-2.5

Amended by IAB October 10, 2018/Volume XLI, Number 8, effective 11/14/2018

Amended by IAB January 11, 2023/Volume XLV, Number 14, effective 2/15/2023