536.10 Examination of business — fee. 1. For the purpose of discovering violations of this chapter or securing information lawfully required by the superintendent, the superintendent may at any time, eitherpersonally or by designee, investigate the loans and business and examine the books,accounts, records, and files of every licensee and of every person engaged in the businessdescribed in section 536.1, whether such person shall act or claim to act as principal oragent, or under or without the authority of this chapter. a. The superintendent and the superintendent’s designee shall have and be given free access to the place of business, books, accounts, papers, records, files, safes, and vaults of allpersons examined. b. The superintendent and the designee shall have authority to require the attendance of and to examine under oath all individuals whose testimony the superintendent may requirerelative to the loans or the business. 2. The superintendent shall make an examination of the affairs, place of business, and records of each licensed place of business at least once each year. 3. irerelative to the loans or the business. 2. The superintendent shall make an examination of the affairs, place of business, and records of each licensed place of business at least once each year. 3. A licensee subject to examination, supervision, and regulation by the superintendent shall pay to the superintendent an examination fee based on the actual cost of the operationof the regulated loan bureau of the banking division of the department of insurance andfinancial services and the proportionate share of administrative expenses in the operationof the banking division attributable to the regulated loan bureau as determined by thesuperintendent. The fee shall apply equally to all licenses and shall not be changed morefrequently than annually. A fee change shall be effective on January 1 of the year followingthe year in which the change is approved. 4. Upon completion of each examination required or allowed by this chapter, the examiner shall deliver one copy of the bill for the examination to the licensee and two copiesto the superintendent. Failure to pay the fee to the superintendent within thirty days afterthe date of the close of the examination shall subject the licensee to nation to the licensee and two copiesto the superintendent. Failure to pay the fee to the superintendent within thirty days afterthe date of the close of the examination shall subject the licensee to an additional fee of fivepercent of the amount of the fee for each day the payment is delinquent. 5. Except as otherwise provided by this chapter, all papers, documents, examination reports, and other writing relating to the supervision of licensees are not public records andare not subject to disclosure under chapter 22. The superintendent may disclose informationto representatives of other state or federal regulatory authorities. The superintendent mayrelease summary complaint information so long as the information does not specificallyidentify the complainant. The superintendent may prepare and circulate reports reflectingfinancial information and examination results for all licensees on an aggregate basis,including other information considered pertinent to the purpose of each report for generalstatistical information. The superintendent may prepare and circulate reports provided bylaw. aggregate basis,including other information considered pertinent to the purpose of each report for generalstatistical information. The superintendent may prepare and circulate reports provided bylaw. The superintendent may release the reports and correspondence in the course of anenforcement proceeding or a hearing held by the superintendent. The superintendent mayalso provide this information to the attorney general for purposes of enforcing this chapteror the consumer fraud Act, section 714.16. [C24, 27, 31, §9433; C35, §9438-f10; C39, §9438.10; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §536.10] 85 Acts, ch 158, §3; 2006 Acts, ch 1042, §37; 2023 Acts, ch 19, §2756Referred to in §536.16, 537.2305Subsection 3 amended Sat Dec 23 01:38:53 2023 Iowa Code 2024, Section 536.10 (18, 1)
Iowa Legal Code