§ 536A.24 — Electronic transactions

Iowa § 536A.24

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 536A: INDUSTRIAL LOANS

Text

A licensee may engage in any transaction otherwise permitted by this chapter and
applicable law, by means of either the direct transmission of electronic impulses or other
indicia of a transaction for delayed transmission to the licensee. Subject to the provisions
of chapter 527, a licensee may utilize, establish or operate, alone or with one or more other
licensees, banks incorporated under the provisions of chapter 524 or federal law, credit
unions incorporated under the provisions of chapter 533 or federal law, savings and loan
associations incorporated under the provisions of federal law, or third parties, the satellite
terminals permitted under chapter 527, by means of which the licensee may transmit to
or receive from any customer electronic impulses constituting transactions pursuant to
this section. However, such utilization, establishment or operation is lawful only when in
compliance with chapter 527. Nothing in this section authorizes a licensee or other person
to engage in transactions not otherwise permitted by applicable law, nor does anything in
this section repeal, replace or in any other way affect any applicable law or rule regarding
the maintenance of or access to financial information maintained by a licensee.

Legislative History

[C81, §536A.24]