Iowa § 533.305 Investment in banks or savings banks — required findings

Iowa Statutes

§ 533.305 — Investment in banks or savings banks — required findings

Iowa § 533.305

Title XIIICOMMERCE

Ch. 533CREDIT UNIONS

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Bluebook

Iowa Code § 533.305 (2026).

Text

1.Investment in banks. A state credit union may, with the prior approval of the superintendent, invest in the capital stock, obligations, or other securities of a bank.

2.Investment in savings banks. A state credit union may, with the prior approval of the superintendent, invest in the capital stock, obligations, or other securities of a savings bank.

3.Findings required. The superintendent shall not grant an approval under subsection 1 or 2, unless the superintendent makes one of the following findings:

a.Based upon a preponderance of the evidence presented, the proposed investment will not have the immediate effect of significantly reducing competition between depository financial institutions located in the same community as the institution whose shares would be acquired.

b.Basedup

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1. Investment in banks. A state credit union may, with the prior approval of the
superintendent, invest in the capital stock, obligations, or other securities of a bank.
2. Investment in savings banks. A state credit union may, with the prior approval of the
superintendent, invest in the capital stock, obligations, or other securities of a savings bank.
3. Findings required. The superintendent shall not grant an approval under subsection
1 or 2, unless the superintendent makes one of the following findings:
a. Based upon a preponderance of the evidence presented, the proposed investment
will not have the immediate effect of significantly reducing competition between depository
financial institutions located in the same community as the institution whose shares would
be acquired.
b. Baseduponapreponderanceoftheevidencepresented,theproposedinvestmentwould
have an anticompetitive effect as described in paragraph “a”, but other factors, specifically
cited, outweigh the anticompetitive effect so that there would be a net public benefit as a
result of the investment.
4. Competition preserved.
a. The subsequent liquidation of a bank or savings bank whose shares are acquired under
this section shall not prevent the subsequent incorporation of another bank or savings bank
in the same community.
b. The superintendent of banking shall not find the liquidation of a bank whose shares
are acquired under this section to be grounds for disapproving the incorporation of another
bank in the same community under section 524.305.