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Can you summarize 187 IAAC Chapter 2?
Banking Division > APPLICATION PROCEDURES
Short Summary
The documents provided cover various application procedures for state-chartered banks in Iowa. They govern the conversion of a national bank into a state bank, organization of a state-chartered bank, merger or purchase and assumption for state banks and national and state banks, establishment and operation of a bank office, renewal, amendment, or restatement of articles of incorporation for state banks, purchase or acquisition of outstanding shares of a state bank resulting in control or change in control, relocation of principal place of business or a bank office, procedures for applications requiring a public hearing, authorization of state-chartered banks to engage in securities activities, investment in bank service corporations or subsidiaries, use of futures contracts, forward contracts, and standby contracts by state banks, operation of mobile offices, bank-owned courier services, and convenience offices by state banks, and engagement of state banks in new or innovative electronic activities. These documents apply to national banks, state banks, the superintendent, the secretary of state, directors of state banks, shareholders of state banks, individuals or entities seeking to purchase or acquire outstanding shares of a state bank, individuals or entities seeking to relocate a bank office, individuals or entities seeking to engage in securities activities, individuals or entities seeking to invest in a bank service corporation or subsidiary, state banks engaging in futures contracts, forward contracts, and standby contracts, state banks operating mobile offices, bank-owned courier services, or convenience offices, and state banks engaging in new or innovative electronic activities. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
The documents apply to national banks, state banks, the superintendent, the secretary of state, directors of state banks, shareholders of state banks, individuals or entities seeking to purchase or acquire outstanding shares of a state bank, individuals or entities seeking to relocate a bank office, individuals or entities seeking to engage in securities activities, individuals or entities seeking to invest in a bank service corporation or subsidiary, state banks engaging in futures contracts, forward contracts, and standby contracts, state banks operating mobile offices, bank-owned courier services, or convenience offices, and state banks engaging in new or innovative electronic activities.
What does it govern?
The documents govern various aspects of the application procedures for state-chartered banks in Iowa, including conversion of a national bank into a state bank, organization of a state-chartered bank, merger or purchase and assumption for state banks and national and state banks, establishment and operation of a bank office, renewal, amendment, or restatement of articles of incorporation for state banks, purchase or acquisition of outstanding shares of a state bank resulting in control or change in control, relocation of principal place of business or a bank office, procedures for applications requiring a public hearing, authorization of state-chartered banks to engage in securities activities, investment in bank service corporations or subsidiaries, use of futures contracts, forward contracts, and standby contracts by state banks, operation of mobile offices, bank-owned courier services, and convenience offices by state banks, and engagement of state banks in new or innovative electronic activities.
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Iowa