§ 533c-203

533C.203 Supervision. 1. The superintendent may conduct an examination or investigation of a licensee or authorized delegate or otherwise take independent action authorized by this chapter or bya rule adopted or order issued under this chapter as reasonably necessary or appropriateto administer and enforce this chapter, regulations implementing this chapter, and otherapplicable law, including the federal Bank Secrecy Act, Pub. L. No. 91-508, and the federalUniting and Strengthening America by Providing Appropriate Tools Required to Interceptand Obstruct Terrorism Act of 2001, Pub. L. No. 107-56. The superintendent shall providesupervision as follows: a. Conducting an examination either on site or off site as the supervision may reasonably require. b. Conducting an examination in conjunction with an examination conducted by representatives of other state agencies or agencies of another state or of the federalgovernment. c. Accepting the examination report of another state agency or an agency of another state or of the federal government, or a report prepared by an independent accounting firm, whichon being accepted is considered for all purposes as an official report of the

or an agency of another state or of the federal government, or a report prepared by an independent accounting firm, whichon being accepted is considered for all purposes as an official report of the superintendent. d. Summoning and examining under oath a key individual or employee of a licensee or authorized delegate and requiring the person to produce records regarding any matter relatedto the condition and business of the licensee or authorized delegate. 2. A licensee or authorized delegate shall provide, and the superintendent shall have full and complete access to, all records the superintendent may reasonably require to conducta complete examination. The records shall be provided at the location and in the formatspecified by the superintendent, provided the superintendent may utilize multistate recordproduction standards and examination procedures when such standards will reasonablyachieve the requirements of this section. 3. Unless otherwise directed by the superintendent, a licensee shall pay all costs reasonably incurred in connection with an examination of the licensee or the licensee’sauthorized delegates.

ection. 3. Unless otherwise directed by the superintendent, a licensee shall pay all costs reasonably incurred in connection with an examination of the licensee or the licensee’sauthorized delegates. 2003 Acts, ch 96, §6, 42; 2023 Acts, ch 83, §7Referred to in §533C.606Section stricken and rewritten Sat Dec 23 01:36:43 2023 Iowa Code 2024, Section 533C.203 (17, 1)