523A.205 Financial institution annual reporting requirements. 1. A financial institution shall file with the commissioner not later than March 1 of each year an annual report on a form prescribed by the commissioner showing all funds depositedby a seller under a trust agreement during the previous year. Each report shall contain allinformation requested. 2. All records maintained by the commissioner under this section shall be confidential pursuant to section 22.7, subsection 58, and shall not be made available for inspection orcopying except upon approval of the commissioner or the attorney general, or except whensought by the financial institution to whom the records relate. Such records shall be privilegedand confidential in any judicial or administrative proceeding except any of the following: a. An action commenced by the commissioner.b. An administrative proceeding brought by the insurance division.c. An action or proceeding which arises out of the criminal provisions of the laws of this state or of the United States. d. An action brought by the insurance division or the attorney general to recover moneys for embezzlement, misappropriation, or misuse of trust funds. the laws of this state or of the United States. d. An action brought by the insurance division or the attorney general to recover moneys for embezzlement, misappropriation, or misuse of trust funds. 2001 Acts, ch 118, §23; 2007 Acts, ch 175, §53; 2015 Acts, ch 128, §29, 30, 50, 51Referred to in §22.7(58) Sat Dec 23 00:55:34 2023 Iowa Code 2024, Section 523A.205 (22, 0)
Iowa Legal Code