§ 533.106

533.106 Employees. 1. a. The superintendent may appoint assistants, examiners, and other employees as the superintendent considers necessary to the proper discharge of duties imposed upon thesuperintendent by the laws of this state. b. Pay plans shall be established for the credit union division employees, other than clerical employees, who supervise and examine the accounts and affairs of credit unionsand other persons, subject to supervision and regulation by the superintendent, that aresubstantially equivalent to those paid by the national credit union administration and otherfederal supervisory agencies in this area of the United States. 2. a. A state credit union, or its officers, directors, or employees, shall not directly or indirectly make a loan of money or property to the superintendent. b. The superintendent shall not directly or indirectly accept a loan of money or property from a state credit union, or its officers, directors, or employees. 3. a. An employee of the credit union division, other than the superintendent, may borrow money from a state credit union only on comparable terms and conditions to those ordinarilyextended to all members of the credit union.

redit union division, other than the superintendent, may borrow money from a state credit union only on comparable terms and conditions to those ordinarilyextended to all members of the credit union. The employee shall notify the superintendentof the acceptance of a loan from a state credit union. b. The superintendent may restrict borrowing by employees from state credit unions if the superintendent determines such borrowing will interfere with the functions of the creditunion division. c. An employee shall not participate in the examination of a credit union where the employee has a loan. 4. The superintendent or an employee of the credit union division, other than a member of the review board, shall not perform any services for or be an officer, director, or employeeof a state credit union or any other entity supervised or regulated by the credit union division. 5. A person who violates subsections 1 through 4 shall be permanently disqualified from acting as an officer, director, or employee of a state credit union and permanently disqualifiedfrom acting as superintendent or an employee of the credit union division. 6.

anently disqualified from acting as an officer, director, or employee of a state credit union and permanently disqualifiedfrom acting as superintendent or an employee of the credit union division. 6. The superintendent or an employee of the credit union division who is convicted, or an applicant for employment with the credit union division who has been convicted, of theft,burglary, robbery, larceny, embezzlement, or other crime involving breach of trust, or a crimeinvolving moral turpitude, shall be forever disqualified from holding any position in the creditunion division. 2007 Acts, ch 174, §6; 2018 Acts, ch 1123, §5, 7; 2019 Acts, ch 59, §191Referred to in §533.106A Sat Dec 23 01:31:02 2023 Iowa Code 2024, Section 533.106 (21, 1)