524.217 Examinations. 1. The superintendent may do all of the following:a. Make or cause to be made an examination of every state bank and trust company whenever in the superintendent’s judgment such examination is necessary or advisable, butin no event less frequently than once during each two-year period by either the bankingdivision or the appropriate federal banking agency. During the course of each examinationof a state bank or trust company, inquiry shall be made as to its financial condition, thesecurity afforded to those to whom it is obligated, the policies of its management, whetherthe requirements of law have been complied with in the administration of its affairs, and suchother matters as the superintendent may prescribe. b. Make or cause to be made such limited examinations at such times and with such frequency as the superintendent deems necessary and advisable to determine the conditionof any state bank or trust company and whether any person has violated any of the provisionsof this chapter. c. Make or cause to be made an examination of any corporation in which the state bank or trust company owns shares. d. ompany and whether any person has violated any of the provisionsof this chapter. c. Make or cause to be made an examination of any corporation in which the state bank or trust company owns shares. d. Upon application to and order of the district court of Polk county, make or cause to be made an examination of any person having business transactions or a relationship withany state bank or trust company when such examination is deemed necessary and advisablein order to determine whether the capital of the state bank or trust company is impaired orwhether the safety of its deposits has been imperiled. The fee for any such examination shallbe paid by the state bank or trust company. e. To the extent necessary for the purpose of any examination provided for by this section and section 524.1105, examine all relevant books, records, accounts, and documents andcompel the production of the same in the manner prescribed by section 524.214. 2. The superintendent may furnish to the federal deposit insurance corporation, the federal reserve system, the United States department of the treasury, the national creditunion administration, the federal home loan bank, and financial institution deposit insurance corporation, the federal reserve system, the United States department of the treasury, the national creditunion administration, the federal home loan bank, and financial institution regulatoryauthorities of other states, or to any official or supervising examiner of such regulatoryauthorities, a copy of the report of any or all examinations made of any state bank and ofany affiliate of a state bank. 3. A copy of the report of each examination of a state bank or trust company shall be transmitted by the superintendent to the board of directors of the state bank or trustcompany except to the extent that the report of any such examination may be confidentialto the superintendent, and each member of the board of directors shall furnish to thesuperintendent, on forms to be supplied by the superintendent, a statement that the memberhas read the report of examination. 4. All reports of examinations, including any copies of such reports, in the possession of any person other than the superintendent or employee of the banking division, including anystate bank or any agency to which any report of such examination may be furnished undersubsection 2, shall be confidential er than the superintendent or employee of the banking division, including anystate bank or any agency to which any report of such examination may be furnished undersubsection 2, shall be confidential communications, shall not be subject to subpoena fromsuch persons, and shall not be published or made public by such persons. 5. The report of examination of any affiliate or of any person examined as provided for in subsection 1, paragraph 'c' or 'd', shall not be transmitted by the superintendent to anysuch affiliate or person or to any state bank or trust company or to the board of directors ofany state bank or trust company unless authorized or requested by such affiliate or person. 6. The superintendent may enter into contractual agreements with other state regulators of financial institutions to share examiners or to assist in each state’s respective examinationsor other supervisory activities. A contractual agreement pursuant to this section may provide for reimbursement to the state providing assistance. The division of banking shallbe reimbursed for any costs incurred when providing services to other states pursuant to thissubsection. may provide for reimbursement to the state providing assistance. The division of banking shallbe reimbursed for any costs incurred when providing services to other states pursuant to thissubsection. Any division of banking personnel assisting another state with its examinationsor other supervisory activities shall be covered by the provisions of the other state’s tortclaims act, to the extent permitted by the laws of the other state. If the law of the other state Sat Dec 23 01:11:22 2023 Iowa Code 2024, Section 524.217 (23, 0) §524.217, BANKS 2 does not extend coverage to the division of banking personnel working on the other state’sexaminations or other supervisory activities, the provisions of chapter 669 shall apply. [R60, §1637; C73, §1571; C97, §1873; S13, §1873; C24, 27, 31, 35, §9231, 9283-g4; C39, §9231, 9283.47; C46, 50, 54, 58, 62, 66, §528.25, 530.4; C71, 73, 75, 77, 79, 81, §524.217] 89 Acts, ch 257, §5; 90 Acts, ch 1228, §2; 92 Acts, ch 1161, §1; 95 Acts, ch 148, §16; 2004 Acts, ch 1141, §15; 2006 Acts, ch 1015, §2; 2007 Acts, ch 170, §2, 3; 2022 Acts, ch 1062, §17 Referred to in §524.212, 524.218, 524.219, 537.2305 Sat Dec 23 01:11:22 2023 Iowa Code 2024, Section 2004 Acts, ch 1141, §15; 2006 Acts, ch 1015, §2; 2007 Acts, ch 170, §2, 3; 2022 Acts, ch 1062, §17 Referred to in §524.212, 524.218, 524.219, 537.2305 Sat Dec 23 01:11:22 2023 Iowa Code 2024, Section 524.217 (23, 0)
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