§ 533.108 — Records of credit union division

Iowa § 533.108

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 533: CREDIT UNIONS

Text

1. a. Records of the credit union division are public records subject to the provisions of
chapter 22, except as otherwise provided in this chapter.
b. Papers, documents, writings, reports, reports of examinations and other information
relatingspecificallytothesupervisionandregulationofaspecificstatecreditunionorofother
persons by the superintendent pursuant to the laws of this state are not public records and
shall not be open for examination or copying by the public or for examination or publication
by the news media.
c. The superintendent or an employee of the credit union division shall not disclose
information relating specifically to the supervision and regulation of a specific state credit
union or of other persons in any manner to any person other than the person examined,
except as otherwise authorized by this section or section 533.113 or 533.308.
d. Notwithstanding the prohibition on disclosure pursuant to paragraph “c”, the
superintendent or an employee of the credit union division may disclose information relating
specifically to the supervision and regulation of a specific state credit union or of other
persons if the credit union or other person consents in writing to the disclosure and the
persons to whom the disclosures are made are subject to, or agree to comply with, standards
of confidentiality comparable to those contained in this chapter.
2. a. The superintendent or an employee of the credit union division shall not be
subpoenaed in any cause or proceeding to give testimony concerning papers, documents,
writings, reports, reports of examinations, or other information relating to the supervision
and regulation of a specific state credit union or persons by the superintendent pursuant to
the laws of this state.
b. The papers, documents, writings, reports, reports of examinations, and other
information of the credit union division that relate to the supervision and regulation of a
specific state credit union or persons shall not be offered in evidence in a court or be subject
to subpoena by a party, except when relevant in the following matters:
(1) In actions or proceedings brought by the superintendent.
(2) In matters in which an interested and proper party seeks review of a decision of the
superintendent.
(3) In actions or proceedings that arise out of the criminal provisions of the laws of this
state or of the United States.
(4) In actions brought as shareholder derivative suits against a credit union by a member
who has acquired an ownership share.
(5) In actions brought to recover moneys or to recover upon an indemnity bond for
embezzlement, misappropriation, or misuse of credit union funds.
3. a. Information, records, and documents utilized for the purpose of, or in the course
of, investigation, regulation, or examination of a specific credit union, received by the credit
union division from some other governmental entity that treats such information, records,
and documents as confidential, are confidential and shall not be disclosed by the division and
are not subject to subpoena.
b. Information, records, and documents under paragraph “a” do not constitute a public
record subject to examination and copying under chapter 22.
c. The superintendent may exchange with governmental regulatory officials confidential
information, records, and documents that are not a public record subject to examination and
copying under chapter 22 provided that the other officials are subject to, or agree to comply
with, standards of confidentiality comparable to those contained in this section.