Ask Reggi Your Question Now
Can you summarize 187 IAAC Chapter 12?
Banking Division > UNIFORM WAIVER RULES
Short Summary
The document establishes a uniform process for granting waivers from rules in the Iowa Administrative Code related to banking. It applies to various entities, including individuals, corporations, government agencies, and legal entities. The document does not apply to rules that define the meaning of a statute or other provision of law. If there is a more specific provision of law governing the issuance of a waiver, that provision takes precedence. The superintendent has the discretion to grant a waiver based on the unique circumstances presented in a petition. To be granted a waiver, the petitioner must demonstrate that the application of the rule would result in undue hardship, that the waiver would not prejudice the substantial legal rights of any person, that the rule is not specifically mandated by statute or another provision of law, and that public health, safety, and welfare will be protected by an alternative means. The superintendent considers the public interest, policies, and legislative intent when deciding whether to grant a waiver. The document outlines the responsibilities of the superintendent regarding petitions for waivers, including requesting additional information, scheduling meetings, and issuing written orders. It also outlines the responsibilities of requesters when filing a waiver petition, specifying the required content of the petition and the burden of persuasion on the petitioner. The document emphasizes the importance of public inspection of waiver orders and provides provisions for redacting confidential information. Violation of conditions in a waiver order is subject to the same remedies or penalties as violation of the particular rule for which the waiver is granted. The document also addresses the withdrawal, cancellation, or modification of a waiver and the use of a waiver order as a defense in legal proceedings. It states that granting or denying a request for waiver is considered final agency action and allows for an appeal to district court. The document concludes with provisions for the submission of waiver information on an internet site and provides a sample petition for waiver.
Whom does it apply to?
The document applies to individuals, corporations, limited liability companies, government or governmental subdivisions or agencies, business trusts, estates, trusts, partnerships or associations, or any legal entity.
What does it govern?
The document outlines a uniform process for granting waivers from rules adopted by the superintendent in situations where no other more specifically applicable law provides for waivers. It specifically governs the granting of waivers from rules in the Iowa Administrative Code related to banking.
What are exemptions?
The document does not apply to rules that merely define the meaning of a statute or other provision of law or precedent if the division does not possess delegated authority to bind the courts to any extent with its definition. If there is another more specific provision of law governing the issuance of a waiver from a particular rule, that provision supersedes this chapter.
What are the Penalties?
No penalties are mentioned in this chapter.
Jurisdiction
Iowa