Iowa Code 533C.201 – Implementation
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Terms Used In Iowa Code 533C.201
- Contract: A legal written agreement that becomes binding when signed.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
533C.201 Implementation.
1. In order to carry out the purposes of this chapter, the superintendent may, subject to
the provisions of § 533C.202:
a. Enter into agreements or relationships with other government officials, federal and state regulatory agencies, and regulatory associations in order to improve efficiencies and reduce regulatory burden by standardizing methods or procedures, and sharing resources, records, or related information obtained under this chapter.
b. Use, hire, contract, or employ analytical systems, methods, or software to examine or investigate any person subject to this chapter.
c. Accept, from other state or federal government agencies or officials, licensing, examination, or investigation reports made by such other state or federal government agencies or officials.
d. Accept audit reports made by an independent certified public accountant or other qualified third-party auditor for an applicant or licensee and incorporate the audit report in any report of examination or investigation.
2. The superintendent shall have the broad administrative authority to administer, interpret, and enforce this chapter, to promulgate rules or regulations implementing this chapter, and to recover the cost of administering and enforcing this chapter by imposing and collecting proportionate and equitable fees and costs associated with applications, examinations, investigations, and other actions required to achieve the purpose of this chapter.
3. For a transaction requested electronically or by phone, the provider of money transmission may determine if the person requesting the transmission is located in this state by relying on other information provided by the person regarding the location of the individual’s residential address or a business entity’s principal place of business or other physical address location, and any records associated with the person that the provider of money transmission may have that indicate such location, including but not limited to an address associated with an account, provided that any transaction requested by an individual whose residential address is in Iowa shall be presumed to occur in Iowa.
4. Outstanding money transmission obligations shall be established and extinguished in accordance with applicable state law.
2003 Acts, ch 96, §4, 42; 2004 Acts, ch 1101, §77; 2023 Acts, ch 83, §5
Section stricken and rewritten
1. In order to carry out the purposes of this chapter, the superintendent may, subject to
the provisions of § 533C.202:
a. Enter into agreements or relationships with other government officials, federal and state regulatory agencies, and regulatory associations in order to improve efficiencies and reduce regulatory burden by standardizing methods or procedures, and sharing resources, records, or related information obtained under this chapter.
b. Use, hire, contract, or employ analytical systems, methods, or software to examine or investigate any person subject to this chapter.
c. Accept, from other state or federal government agencies or officials, licensing, examination, or investigation reports made by such other state or federal government agencies or officials.
d. Accept audit reports made by an independent certified public accountant or other qualified third-party auditor for an applicant or licensee and incorporate the audit report in any report of examination or investigation.
2. The superintendent shall have the broad administrative authority to administer, interpret, and enforce this chapter, to promulgate rules or regulations implementing this chapter, and to recover the cost of administering and enforcing this chapter by imposing and collecting proportionate and equitable fees and costs associated with applications, examinations, investigations, and other actions required to achieve the purpose of this chapter.
3. For a transaction requested electronically or by phone, the provider of money transmission may determine if the person requesting the transmission is located in this state by relying on other information provided by the person regarding the location of the individual’s residential address or a business entity’s principal place of business or other physical address location, and any records associated with the person that the provider of money transmission may have that indicate such location, including but not limited to an address associated with an account, provided that any transaction requested by an individual whose residential address is in Iowa shall be presumed to occur in Iowa.
4. Outstanding money transmission obligations shall be established and extinguished in accordance with applicable state law.
2003 Acts, ch 96, §4, 42; 2004 Acts, ch 1101, §77; 2023 Acts, ch 83, §5
Section stricken and rewritten