533.307 Account insurance. Except as provided in section 533.302, subsection 3, a credit union organized under this chapter, as a condition of maintaining its privilege of organization, shall acquire andmaintain insurance to protect each shareholder and each depositor against loss of fundsheld on account by the credit union. The insurance shall be obtained from the national creditunion administrator or from some other share guarantor or insurance plan approved by theIowa commissioner of insurance and the superintendent, provided that each credit unionshall acquire deposit insurance from the appropriate agency of the federal government. 2007 Acts, ch 174, §38; 2012 Acts, ch 1020, §13Referred to in §533.102 Sat Dec 23 01:33:16 2023 Iowa Code 2024, Section 533.307 (18, 0)
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