Iowa § 527.4 Establishment of satellite terminals — restrictions

Iowa Statutes

§ 527.4 — Establishment of satellite terminals — restrictions

Iowa § 527.4

Title XIIICOMMERCE

Ch. 527ELECTRONIC TRANSFER OF FUNDS

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Bluebook

Iowa Code § 527.4 (2026).

Text

1.A satellite terminal shall not be established within this state except by a financial institution.

2.A financial institution may establish a satellite terminal at any location within this state. This subsection does not amend, modify, or supersede any provision of chapter 524 regulating the number or locations of bank offices of a state or national bank, or authorize the establishment by a financial institution of any offices or other facilities except satellite terminals at locations permitted by this subsection.

3.A financial institution whose licensed or principal place of business is not located in this state may establish, control, maintain, or operate any number of satellite terminals at any location within this state if all satellite terminals, wherever located, that are owned,

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1. A satellite terminal shall not be established within this state except by a financial
institution.
2. A financial institution may establish a satellite terminal at any location within this
state. This subsection does not amend, modify, or supersede any provision of chapter 524
regulating the number or locations of bank offices of a state or national bank, or authorize
the establishment by a financial institution of any offices or other facilities except satellite
terminals at locations permitted by this subsection.
3. A financial institution whose licensed or principal place of business is not located in
this state may establish, control, maintain, or operate any number of satellite terminals at
any location within this state if all satellite terminals, wherever located, that are owned,
controlled, maintained, or operated by the financial institution are available for use on
a nondiscriminatory basis by any other financial institution which engages in electronic
transactions in this state and by all customers who have minimum contact with this state
and who have been designated by a financial institution using the satellite terminal and

who have been provided with an access device, approved by the administrator, by which to
engage in electronic transactions by means of the satellite terminal.