Iowa § 533D.6 Continued operation after change in ownership — approval of superintendent required

Iowa Statutes

§ 533D.6 — Continued operation after change in ownership — approval of superintendent required

Iowa § 533D.6

Title XIIICOMMERCE

Ch. 533DDELAYED DEPOSIT SERVICES

This text of Iowa § 533D.6 (Continued operation after change in ownership — approval of superintendent required) 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 § 533D.6 (2026).

Text

required.

1.Thepriorwrittenapprovalofthesuperintendentisrequiredforthecontinuedoperation of a delayed deposit services business whenever a change in control of a licensee is proposed. The person requesting such approval shall pay to the superintendent a fee of one hundred dollars. Controlinthecaseofacorporationmeansdirectorindirectownershipof,ortheright tocontrol,tenpercentormoreofthevotingsharesofthecorporation,ortheabilityofaperson to elect a majority of the directors or otherwise effect a change in policy. Control in the case of any other entity means any change in the principals of the organization, whether active or passive. The superintendent may require information deemed necessary to determine whether a new application is required. Costs incurred by the superintendent in investiga

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required.
1. Thepriorwrittenapprovalofthesuperintendentisrequiredforthecontinuedoperation
of a delayed deposit services business whenever a change in control of a licensee is proposed.
The person requesting such approval shall pay to the superintendent a fee of one hundred
dollars. Controlinthecaseofacorporationmeansdirectorindirectownershipof,ortheright
tocontrol,tenpercentormoreofthevotingsharesofthecorporation,ortheabilityofaperson
to elect a majority of the directors or otherwise effect a change in policy. Control in the case
of any other entity means any change in the principals of the organization, whether active
or passive. The superintendent may require information deemed necessary to determine
whether a new application is required. Costs incurred by the superintendent in investigating
a change of control request shall be paid by the person requesting such approval.
2. A license issued pursuant to this chapter is not transferable or assignable.