524.825 Securities activities. 1. Subject to the prior approval of the superintendent and as authorized by rules adopted by the superintendent pursuant to chapter 17A, a state bank or a subsidiary of a state bankorganized or acquired pursuant to section 524.802, subsection 12, may engage in directly,or may organize, acquire, or invest in a subsidiary for the purpose of engaging in securitiesactivities and any aspect of the securities industry, including but not limited to any of thefollowing: a. Issuing, underwriting, selling, or distributing stocks, bonds, debentures, notes, interest in mutual funds or money-market-type mutual funds, or other securities. b. Organizing, sponsoring, and operating one or more mutual funds.c. Acting as a securities broker-dealer licensed under chapter 502. The business relating to securities shall be conducted through, and in the name of, the broker-dealer. The requirements of chapter 502 apply to any business of the broker-dealer transacted in thisstate. 2. A subsidiary engaging in activities authorized by this section may also engage in any other authorized activities under section 524.802, subsection 12. f the broker-dealer transacted in thisstate. 2. A subsidiary engaging in activities authorized by this section may also engage in any other authorized activities under section 524.802, subsection 12. 87 Acts, ch 171, §14; 95 Acts, ch 148, §87; 2012 Acts, ch 1023, §157Referred to in §524.802 Sat Dec 23 01:17:15 2023 Iowa Code 2024, Section 524.825 (25, 0)
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