Iowa Statutes
§ 533.314 — Payment of share drafts during dissolution
Iowa § 533.314
This text of Iowa § 533.314 (Payment of share drafts during dissolution) 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 § 533.314 (2026).
Text
Otherprovisionsofsection533.404notwithstanding, whenastatecreditunionisdissolved, first priority of payment shall be given to unpaid share drafts. However, a share draft shall not be paid if any of the following conditions exist:
1.The share draft was issued on or after the date of dissolution, or on or after the date
the state credit union is required by section 533.405, subsection 2, to cease doing business in
the event of a voluntary dissolution.
2.The share draft is written against an account that does not contain sufficient funds with
which to pay the share draft.
3.The share draft is payable to a member of the state credit union, or to a member of the
family of the issuer of the share draft, or to a business in which the issuer of the share draft
has an interest. However, the exce
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Nearby Sections
15
§ 533.101
Title§ 533.102
Definitions§ 533.103
Credit union division created§ 533.104
Superintendent of credit unions§ 533.105
Deputy superintendent§ 533.106
Employees§ 533.106A
Background investigations§ 533.107
Credit union review board§ 533.108
Records of credit union division§ 533.109
Insurance and surety bond§ 533.110
Reimbursement of expenses§ 533.113
ExaminationsCite This Page — Counsel Stack
Bluebook (online)
Iowa § 533.314, Counsel Stack Legal Research, https://law.counselstack.com/statute/ia/533.314.