Iowa Code 536A.14 – Reports
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Terms Used In Iowa Code 536A.14
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- year: means twelve consecutive months. See Iowa Code 4.1
536A.14 Reports.
1. a. Each licensee shall annually on or before the fifteenth day of April file with the
superintendent a report in writing showing the results of the operation of its industrial loan business for the previous calendar year, which reports shall contain:
(1) A balance sheet showing all assets and liabilities as of the thirty-first day of December next preceding.
(2) An operating statement showing income, expenses, and net profit for the previous calendar year.
(3) Such other relevant information as the superintendent shall reasonably require.
b. The report shall be verified under oath by the president and secretary of the corporation. The superintendent shall make and publish annually an analysis and recapitulation of such reports.
2. Each licensee making residential mortgage loans shall submit to the nationwide mortgage licensing system and registry reports of condition, which shall be in such form and shall contain such information as the nationwide mortgage licensing system and registry may require. For purposes of this subsection, “”nationwide mortgage licensing system and registry”” and “”residential mortgage loan”” mean the same as defined in § 535D.3.
[C66, 71, 73, 75, 77, 79, 81, §536A.14]
2008 Acts, ch 1160, §33; 2009 Acts, ch 61, §45, 47
Referred to in §535D.23
1. a. Each licensee shall annually on or before the fifteenth day of April file with the
superintendent a report in writing showing the results of the operation of its industrial loan business for the previous calendar year, which reports shall contain:
(1) A balance sheet showing all assets and liabilities as of the thirty-first day of December next preceding.
(2) An operating statement showing income, expenses, and net profit for the previous calendar year.
(3) Such other relevant information as the superintendent shall reasonably require.
b. The report shall be verified under oath by the president and secretary of the corporation. The superintendent shall make and publish annually an analysis and recapitulation of such reports.
2. Each licensee making residential mortgage loans shall submit to the nationwide mortgage licensing system and registry reports of condition, which shall be in such form and shall contain such information as the nationwide mortgage licensing system and registry may require. For purposes of this subsection, “”nationwide mortgage licensing system and registry”” and “”residential mortgage loan”” mean the same as defined in § 535D.3.
[C66, 71, 73, 75, 77, 79, 81, §536A.14]
2008 Acts, ch 1160, §33; 2009 Acts, ch 61, §45, 47
Referred to in §535D.23