Iowa § 527.12 Revocation of privilege

Iowa Statutes

§ 527.12 — Revocation of privilege

Iowa § 527.12

Title XIIICOMMERCE

Ch. 527ELECTRONIC TRANSFER OF FUNDS

This text of Iowa § 527.12 (Revocation of privilege) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 527.12 (2026).

Text

Whenever the administrator determines, upon notice and hearing pursuant to chapter
17A, that a satellite facility or data processing center or central routing unit is being operated
in violation of this chapter, the administrator may revoke the approval to operate that
facility. If the administrator does not have any direct authority over the facility because of
the provisions of section 527.3, the administrator may revoke with respect to any financial
institution over which the administrator does have direct authority the privilege to engage in
transactions through or with that facility. A revocation by the administrator shall be effective
when ordered by the administrator, anything in chapter 17A to the contrary notwithstanding.
The administrator may bring an action in the district court

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Whenever the administrator determines, upon notice and hearing pursuant to chapter
17A, that a satellite facility or data processing center or central routing unit is being operated
in violation of this chapter, the administrator may revoke the approval to operate that
facility. If the administrator does not have any direct authority over the facility because of
the provisions of section 527.3, the administrator may revoke with respect to any financial
institution over which the administrator does have direct authority the privilege to engage in
transactions through or with that facility. A revocation by the administrator shall be effective
when ordered by the administrator, anything in chapter 17A to the contrary notwithstanding.
The administrator may bring an action in the district court in the name of the state to enjoin
any financial institution or other person who continues to utilize or to operate a satellite
terminal or data processing center or central routing unit after the approval has been
revoked. The administrator also may bring such an action to enjoin any person who fails to
obtain any approval required by this chapter.