Iowa § 524.1603 Engaging in business unlawfully

Iowa Statutes

§ 524.1603 — Engaging in business unlawfully

Iowa § 524.1603

Title XIIICOMMERCE

Ch. 524BANKS

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Bluebook

Iowa Code § 524.1603 (2026).

Text

1.Any person who willfully engages in the business of receiving money for deposit or transacts the business generally done by banks, or who willfully establishes a place of business for such purposes, in violation of section 524.107, subsection 1, shall be guilty of a serious misdemeanor.

2.The superintendent may impose a penalty on a state bank of up to one thousand dollars for each day that it violates the provisions of section 524.1201.

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1. Any person who willfully engages in the business of receiving money for deposit
or transacts the business generally done by banks, or who willfully establishes a place of

business for such purposes, in violation of section 524.107, subsection 1, shall be guilty of
a serious misdemeanor.
2. The superintendent may impose a penalty on a state bank of up to one thousand dollars
for each day that it violates the provisions of section 524.1201.