527.12 Revocation of privilege. Whenever the administrator determines, upon notice and hearing pursuant to chapter 17A, that a satellite facility or data processing center or central routing unit is being operatedin violation of this chapter, the administrator may revoke the approval to operate thatfacility. If the administrator does not have any direct authority over the facility because ofthe provisions of section 527.3, the administrator may revoke with respect to any financialinstitution over which the administrator does have direct authority the privilege to engage intransactions through or with that facility. A revocation by the administrator shall be effectivewhen ordered by the administrator, anything in chapter 17A to the contrary notwithstanding.The administrator may bring an action in the district court in the name of the state to enjoinany financial institution or other person who continues to utilize or to operate a satelliteterminal or data processing center or central routing unit after the approval has beenrevoked. The administrator also may bring such an action to enjoin any person who fails toobtain any approval required by this chapter. ssing center or central routing unit after the approval has beenrevoked. The administrator also may bring such an action to enjoin any person who fails toobtain any approval required by this chapter. [C77, 79, 81, §527.12]Referred to in §527.2 Sat Dec 23 01:30:48 2023 Iowa Code 2024, Section 527.12 (16, 0)
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