§ 533.212

533.212 Use of name 'credit union' requirements — restrictions — exceptions. 1. a. A state credit union organized in accordance with this chapter shall include the words 'credit union' in its name. b. All state credit union offices shall be identified by use of the state credit union’s full name. c. The full name of a state credit union shall be used in all legal documents of the state credit union. 2. a. A person other than a credit union shall not use a name or title containing the words 'credit union', or any derivation, and shall not represent in advertising or otherwise that theperson is conducting business as a credit union, except as provided in subsection 3. b. A person who violates paragraph 'a' may be enjoined from the use of words, advertising, or other representation prohibited by paragraph 'a'. 3. The prohibitions contained in subsection 2 do not apply to any of the following entities:a. A credit union organized under this chapter or the laws of another state.b. A credit union organized under the Federal Credit Union Act, 12 U.S.C. §1751 et seq.c. The Iowa credit union league, a chapter, affiliate, or subsidiary of the Iowa credit union league or a political action

t union organized under the Federal Credit Union Act, 12 U.S.C. §1751 et seq.c. The Iowa credit union league, a chapter, affiliate, or subsidiary of the Iowa credit union league or a political action committee formed pursuant to the Federal Election CampaignAct, 2 U.S.C. §431 et seq., or chapter 68A by the Iowa credit union league or by credit unionsorganized under this chapter or federal law. d. A joint service center operated by two or more credit unions where credit union services are made available to credit union members. e. An organization formed for educational purposes in association with an accredited elementary or secondary school that engages in receipt of deposits of no more thantwenty dollars per depositor and uses the words 'educational credit union' in its name.An educational credit union must be affiliated with a state credit union organized underthis chapter. Notwithstanding this recognition given to an educational credit union, aneducational credit union is not a state credit union within the scope or regulation of thischapter. 4. A credit union organized in accordance with this chapter shall not include the name of any public university located in the state in

ate credit union within the scope or regulation of thischapter. 4. A credit union organized in accordance with this chapter shall not include the name of any public university located in the state in its name. For purposes of this subsection,'public university located in the state' shall mean the state university of Iowa, the Iowa stateuniversity of science and technology, and the university of northern Iowa. 2007 Acts, ch 174, §29; 2018 Acts, ch 1172, §82, 86 Sat Dec 23 01:32:13 2023 Iowa Code 2024, Section 533.212 (24, 1)