§ 533A.5A — Change in control — name or address

Iowa § 533A.5A

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 533A: DEBT MANAGEMENT

Text

1. The prior written approval of the superintendent is required whenever a change in
the control of a licensee is proposed. For purposes of this section, “control” in the case of a
corporation means direct or indirect ownership, or the right to control, ten percent or more
of the voting shares of the corporation, or the ability of a person to elect a majority of the
directors or otherwise effect a change in policy. “Control” in the case of any other entity
means the principals of the organization whether active or passive. The superintendent may
require information deemed necessary to determine whether a new application is required.
When requesting approval, the person shall submit a fee of one hundred dollars to the
superintendent.
2. A licensee shall notify the superintendent and submit a fee of twenty-five dollars
per license to the superintendent thirty days in advance of the effective date of any of the
following:
a. A change in the name of the licensee.
b. A change in the address where the business is conducted.