Iowa § 533C.901 Suspension and revocation — receivership

Iowa Statutes

§ 533C.901 — Suspension and revocation — receivership

Iowa § 533C.901

Title XIIICOMMERCE

Ch. 533CUNIFORM MONEY TRANSMISSION MODERNIZATION ACT

This text of Iowa § 533C.901 (Suspension and revocation — receivership) 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 § 533C.901 (2026).

Text

The superintendent may suspend or revoke a licensee’s license, place a licensee in receivership, or order a licensee to revoke the designation of an authorized delegate if any of the following apply:

1.The licensee violates this chapter, a rule adopted under this chapter, or an order issued under this chapter. 25 UNIFORM MONEY TRANSMISSION MODERNIZATION ACT, §533C.903

2.The licensee does not cooperate with an examination or investigation conducted by the superintendent.

3.The licensee engages in fraud, intentional misrepresentation, or gross negligence.

4.As a result of the licensee’s willful misconduct or willful blindness, an authorized delegate is convicted of a violation of a state or federal anti-money laundering statute, or violates this chapter, a rule adopted under this chapter

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The superintendent may suspend or revoke a licensee’s license, place a licensee in
receivership, or order a licensee to revoke the designation of an authorized delegate if any
of the following apply:
1. The licensee violates this chapter, a rule adopted under this chapter, or an order issued
under this chapter.
25 UNIFORM MONEY TRANSMISSION MODERNIZATION ACT, §533C.903
2. The licensee does not cooperate with an examination or investigation conducted by the
superintendent.
3. The licensee engages in fraud, intentional misrepresentation, or gross negligence.
4. As a result of the licensee’s willful misconduct or willful blindness, an authorized
delegate is convicted of a violation of a state or federal anti-money laundering statute, or
violates this chapter, a rule adopted under this chapter, or an order issued under this chapter.
5. The competence, experience, character, or general fitness of the licensee, authorized
delegate, person in control of a licensee, or key individual of the licensee or authorized
delegate indicates that it is not in the public interest to permit the person to provide money
transmission.
6. The licensee engages in an unsafe or unsound practice. In determining whether a
licensee is engaging in an unsafe or unsound practice, the superintendent may consider the
size and condition of the licensee’s money transmission, the magnitude of any losses, the
gravity of any violations of this chapter, and the previous conduct of any persons involved.
7. The licensee is insolvent, suspends payment of the licensee’s obligations, or makes a
general assignment for the benefit of the licensee’s creditors.
8. The licensee does not remove an authorized delegate after the superintendent issues
and serves upon the licensee a final order finding that the authorized delegate has violated
this chapter, a rule adopted under this chapter, or an order issued under this chapter.