§ 533.111

533.111 Expenses of the credit union division. 1. a. All expenses required in the discharge of the duties and responsibilities imposed upon the credit union division, the superintendent, and the review board 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. b. All fees imposed under this chapter are payable to the superintendent, who shall pay all fees and other moneys received to the treasurer of state within the time required by section12.10. The treasurer of state shall deposit such funds in the commerce revolving fund createdin section 546.12. 2. 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. 3. The credit union division may expend additional funds, including funds for additional personnel, if the additional expenditures are actual expenses that exceed the funds budgetedfor credit union examinations and directly result from examinations of state credit unions. a.

r additional personnel, if the additional expenditures are actual expenses that exceed the funds budgetedfor credit union examinations and directly result from examinations of state credit unions. a. The amounts necessary to fund the excess examination expenses shall be collected from state credit unions being regulated, and the collections shall be treated as repaymentreceipts as defined in section 8.2. b. The division shall notify in writing the legislative services agency and the department of management when hiring additional personnel. The written notification shall includedocumentation that any additional expenditure related to such hiring will be totallyreimbursed as provided in section 546.12, subsection 2, and shall also include the division’sjustification for hiring such personnel. The division must obtain the approval of the department of management only if the number of additional personnel to be hired exceedsthe number of full-time equivalent positions authorized by the general assembly. 4. a. All fees and other 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

the general assembly. 4. a. All fees and other 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 bepaid from moneys in the commerce revolving fund and appropriated for those purposes. b. Funds appropriated to the credit union division shall be subject at all times to the warrant of the director of the department of administrative services, drawn upon writtenrequisition of the superintendent or a designated representative, for the payment of allsalaries and other expenses necessary to carry out the duties of the credit union division. 5. The credit union division may accept reimbursement of expenses related to the examination of a state credit union from the national credit union administration or anyother guarantor or insurance plan authorized by this chapter. These reimbursements shallbe deposited into the commerce revolving fund created in section 546.12. 2007 Acts, ch 174, §11; 2009 Acts, ch 181, §104; 2011 Acts, ch 34, §122; 2023 Acts, ch 19, §2747 Subsections 1, 4, and 5 amended Sat Dec 23 01:31:07 2023 Iowa Code 2024, Section 533.111 (27, 2)