524.207 Expenses of the banking division — fees. 1. Except as otherwise provided by statute, all expenses required in the discharge of the duties and responsibilities imposed upon the banking division of the department of insuranceand financial services, the superintendent, and the state banking council by the laws of thisstate shall be paid from fees provided by the laws of this state and appropriated by the generalassembly from the commerce revolving fund created in section 546.12. All of these fees arepayable to the superintendent. The superintendent shall pay all the fees and other moneysreceived by the superintendent to the treasurer of state within the time required by section12.10 and the fees and other moneys shall be deposited into the commerce revolving fundcreated in section 546.12. 2. All fees and assessments generated as the result of a national bank or federal savings association converting to a state bank on or after December 31, 2015, are payable to thesuperintendent. The superintendent shall pay all the fees and assessments received bythe superintendent pursuant to this subsection to the treasurer of state within the timerequired by section 12.10 and the fees and The superintendent shall pay all the fees and assessments received bythe superintendent pursuant to this subsection to the treasurer of state within the timerequired by section 12.10 and the fees and assessments shall be deposited into the commercerevolving fund created in section 546.12. An amount equal to such fees and assessmentsdeposited into the commerce revolving fund is appropriated from the commerce revolvingfund to the banking division of the department of insurance and financial services for thefiscal year in which a national bank or federal savings association converted to a state bankand an amount equal to such annualized fees and assessments deposited into the commercerevolving fund in succeeding years is appropriated from the commerce revolving fund tothe banking division of the department of insurance and financial services for succeedingfiscal years for purposes related to the discharge of the duties and responsibilities imposedupon the banking division of the department of insurance and financial services, thesuperintendent, and the state banking council by the laws of this state. of the duties and responsibilities imposedupon the banking division of the department of insurance and financial services, thesuperintendent, and the state banking council by the laws of this state. This appropriationshall be in addition to the appropriation of moneys otherwise described in this section. Ifa state bank converts to a national bank or federal savings association, any appropriationmade pursuant to this subsection for the following fiscal year shall be reduced by the amountof the assessment paid by the state bank during the fiscal year in which the state bankconverted to a national bank or federal savings association. 3. The superintendent shall account for receipts and disbursements according to the separate duties imposed upon the superintendent by the laws of this state and each separateduty shall be fiscally self-sustaining. 4. The banking division may expend additional funds, including funds for additional personnel, if those additional expenditures are actual expenses which exceed the fundsbudgeted for bank or licensee examinations or investigations and directly result fromexaminations or investigations of banks or licensees. ional expenditures are actual expenses which exceed the fundsbudgeted for bank or licensee examinations or investigations and directly result fromexaminations or investigations of banks or licensees. The amounts necessary to fund theexcess examination or investigation expenses shall be collected from banks and licenseesbeing regulated, and the collections shall be treated as repayment receipts as defined insection 8.2. The division shall notify in writing the legislative services agency and the department of management when hiring additional personnel. The written notification shall include documentation that any additional expenditure related to such hiring will betotally reimbursed as provided in section 546.12, subsection 2, and shall also include thedivision’s justification for hiring such personnel. The division must obtain the approvalof the department of management only if the number of additional personnel to be hiredexceeds the number of full-time equivalent positions authorized by the general assembly. 5. All fees and moneys collected shall be deposited into the commerce revolving fund created in section 546.12 and expenses required to be paid under this section shall be ed by the general assembly. 5. All fees and moneys collected shall be deposited into the commerce revolving fund created in section 546.12 and expenses required to be paid under this section shall be paidfrom moneys in the commerce revolving fund and appropriated for those purposes. 6. All moneys received by the superintendent pursuant to a multi-state settlement with a provider of financial services such as a mortgage lender, a mortgage servicer, or any otherperson regulated by the banking division of the department of insurance and financialservices shall be deposited into the commerce revolving fund created in section 546.12 and anamount equal to the amount deposited into the fund is appropriated to the banking divisionof the department of insurance and financial services for the fiscal year in which such moneys Sat Dec 23 01:11:17 2023 Iowa Code 2024, Section 524.207 (38, 2) §524.207, BANKS 2 are received and in succeeding fiscal years for the purpose of promoting financial-relatededucation and supporting those duties of the banking division related to financial regulationthat are limited to nonrecurring expenses such as equipment purchases, training, technology,and retirement education and supporting those duties of the banking division related to financial regulationthat are limited to nonrecurring expenses such as equipment purchases, training, technology,and retirement payouts related to the oversight of mortgage lending, state banks, and otherfinancial services regulated by the banking division. This appropriation shall be in additionto the appropriation of moneys otherwise described in this section. The superintendentshall submit a report to the department of management and to the legislative servicesagency detailing the expenditure of moneys appropriated to the banking division pursuantto this subsection during each fiscal year. The initial report shall be submitted on or beforeSeptember 15, 2016, and each September 15 thereafter. Moneys appropriated pursuant tothis subsection are not subject to section 8.33 and shall not be transferred, used, obligated,appropriated, or otherwise encumbered except as provided in this subsection. [C24, 27, 31, 35, 39, §9144, 9145, 9149; C46, 50, 54, 58, 62, 66, §524.16, 524.17, 524.22; C71, 73, 75, 77, 79, 81, §524.207] 86 Acts, ch 1246, §616; 87 Acts, ch 234, §435; 90 Acts, ch 1247, §14; 91 Acts, ch 260, §1243; , §9144, 9145, 9149; C46, 50, 54, 58, 62, 66, §524.16, 524.17, 524.22; C71, 73, 75, 77, 79, 81, §524.207] 86 Acts, ch 1246, §616; 87 Acts, ch 234, §435; 90 Acts, ch 1247, §14; 91 Acts, ch 260, §1243; 93 Acts, ch 131, §22; 94 Acts, ch 1107, §85; 2003 Acts, ch 35, §45, 49; 2004 Acts, ch 1141, §6;2009 Acts, ch 181, §103; 2016 Acts, ch 1130, §27, 29, 31; 2022 Acts, ch 1062, §12; 2023 Acts,ch 19, §2741; 2023 Acts, ch 64, §86 See Code editor’s note on simple harmonization at the beginning of this Code volumeSubsections 1, 2, 5, and 6 amended Sat Dec 23 01:11:17 2023 Iowa Code 2024, Section 524.207 (38, 2)
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