533.305 Investment in banks or savings banks — required findings. 1. Investment in banks. A state credit union may, with the prior approval of the superintendent, invest in the capital stock, obligations, or other securities of a bank. 2. Investment in savings banks. A state credit union may, with the prior approval of the superintendent, invest in the capital stock, obligations, or other securities of a savings bank. 3. Findings required. The superintendent shall not grant an approval under subsection 1 or 2, unless the superintendent makes one of the following findings: a. Based upon a preponderance of the evidence presented, the proposed investment will not have the immediate effect of significantly reducing competition between depositoryfinancial institutions located in the same community as the institution whose shares wouldbe acquired. b. Based upon a preponderance of the evidence presented, the proposed investment would have an anticompetitive effect as described in paragraph 'a', but other factors, specificallycited, outweigh the anticompetitive effect so that there would be a net public benefit as aresult of the investment. 4. Competition preserved.a. ribed in paragraph 'a', but other factors, specificallycited, outweigh the anticompetitive effect so that there would be a net public benefit as aresult of the investment. 4. Competition preserved.a. The subsequent liquidation of a bank or savings bank whose shares are acquired under this section shall not prevent the subsequent incorporation of another bank or savings bankin the same community. b. The superintendent of banking shall not find the liquidation of a bank whose shares are acquired under this section to be grounds for disapproving the incorporation of anotherbank in the same community under section 524.305. 2007 Acts, ch 174, §36; 2012 Acts, ch 1017, §129 Sat Dec 23 01:33:15 2023 Iowa Code 2024, Section 533.305 (19, 0)
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