Iowa § 524.1602 Penalties applicable to state bank

Iowa Statutes

§ 524.1602 — Penalties applicable to state bank

Iowa § 524.1602

Title XIIICOMMERCE

Ch. 524BANKS

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Bluebook

Iowa Code § 524.1602 (2026).

Text

The superintendent may impose a penalty on a state bank of up to one thousand dollars for each day:

1.That it holds investments for its own account in bonds or securities in violation of section 524.901.

2.On which it accepts and holds drafts in violation of section 524.903.

3.On which it has money loaned, credit extended, or holds discounted or purchased evidences of indebtedness or agreements for the payment of money, in violation of sections 524.904, 524.905, and 524.907.

4.On which it has money loaned, invested or is otherwise in violation of section 524.1102 or 524.1104.

5.Onwhichitpublishes, disseminates, ordistributesanyadvertisingcontaininganyfalse, misleading, or deceptive statements concerning rates, terms, and conditions on which loans are made or deposits are received, in

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The superintendent may impose a penalty on a state bank of up to one thousand dollars for
each day:
1. That it holds investments for its own account in bonds or securities in violation of
section 524.901.
2. On which it accepts and holds drafts in violation of section 524.903.
3. On which it has money loaned, credit extended, or holds discounted or purchased
evidences of indebtedness or agreements for the payment of money, in violation of sections
524.904, 524.905, and 524.907.
4. On which it has money loaned, invested or is otherwise in violation of section 524.1102
or 524.1104.
5. Onwhichitpublishes, disseminates, ordistributesanyadvertisingcontaininganyfalse,
misleading, or deceptive statements concerning rates, terms, and conditions on which loans
are made or deposits are received, in violation of section 524.1606.