533.113A Meetings of the board called by superintendent. 1. Whenever the superintendent deems it necessary and advisable, the superintendent may notify the board of directors of a state credit union that a meeting will be held at a placeand time and manner as the superintendent directs. The superintendent’s notice may disclosethe purpose of the meeting. 2. The superintendent may present to the board at the meeting any item the superintendent desires to bring to the attention of the board, including but not limitedto any report of an examination required or allowed by this chapter, any conclusions orprojections drawn by the superintendent, any recommendations made relative to a report ofan examination, and any other matters concerning the operation and condition of the statecredit union. 3. Each member of a board of directors required to hold a meeting with the superintendent pursuant to this section shall furnish a statement to the superintendent, on forms suppliedby the superintendent, that the member acknowledges the matters presented by thesuperintendent. 4. A state credit union required to hold a meeting with the superintendent pursuant to this section shall cause the matters t, that the member acknowledges the matters presented by thesuperintendent. 4. A state credit union required to hold a meeting with the superintendent pursuant to this section shall cause the matters presented at such meeting to be recorded in the minutes ofthe meeting. 5. If the superintendent concludes that a state credit union’s affairs are in an unfavorable condition, the superintendent may direct the state credit union to consider consolidation,dissolution, or any other form of reorganization. 2017 Acts, ch 12, §2 Sat Dec 23 01:31:09 2023 Iowa Code 2024, Section 533.113A (7, 0)
Iowa Legal Code