§ 524.102 — Statement of intent

Iowa § 524.102

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 524: BANKS

Text

The general assembly declares as its purpose in adopting this chapter to provide for:
1. The safe and sound conduct of the business of banking.
2. The conservation of the assets of state banks.
3. The maintenance of public confidence in state banks.
4. The protection of the interests of depositors, creditors, shareholders and of the interest
of the public in a sound and strong banking system.
5. The opportunity for state banks to be competitive with each other and with banks
existing under the laws of other states and the United States.
6. The opportunity for state banks to effectively serve the convenience and banking needs
of their depositors, borrowers, and other customers and to participate in and promote the
economic progress of Iowa and of the United States.
7. The opportunity for the management of a state bank to exercise its business judgment,
in conducting the affairs of the state bank, to the extent compatible with, and subject to the
purposes of this chapter.
8. Thedelegationtothesuperintendentofadequaterulemakingpowerandadministrative
discretion, in order that the supervision and regulation of state banks may be flexible and
readily responsive to changes in economic conditions and changes in banking and fiduciary
practices.
9. The simplification and modernization of the law governing the business of banking and
the exercise of certain fiduciary powers.
10. The opportunity for state banks to adopt, in a manner that is compatible with and
subject to the purposes of this chapter, new and emerging technologies that enhance the
efficiency and convenience of banking products and services.

Legislative History

[C71, 73, 75, 77, 79, 81, §524.102]