§ 536a-15

536A.15 Examination of licensees. 1. The superintendent or the superintendent’s designee shall, at least once each year without previous notice, examine the books, accounts, and records of each licensee engagedin the industrial loan business as defined by this chapter. A licensee issuing senior debtto the general public shall be audited at the expense of the licensee by a certified publicaccountant licensed to practice in the state of Iowa. A licensee not issuing senior debt tothe general public may provide an audited statement of the licensee’s parent corporationwhich includes the Iowa licensee. After receiving such an audit or audited statement, thesuperintendent may make further examination of the licensee as the superintendent deemsnecessary. A record of each examination shall be kept in the superintendent’s office. 2. 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.

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. 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. 3. Any evidence of criminal acts committed by officers, directors, or employees of an industrial loan company shall be reported by the superintendent to the proper authorities. 4.

ct, section 714.16. 3. Any evidence of criminal acts committed by officers, directors, or employees of an industrial loan company shall be reported by the superintendent to the proper authorities. 4. The licensee shall be charged and shall pay the actual costs of the examination as determined by the superintendent based on the actual cost of the operation of the financebureau of the banking division of the department of insurance and financial servicesincluding the proportionate share of administrative expenses in the operation of the bankingdivision attributable to the finance bureau as determined by the superintendent incurredin the discharge of the duties imposed upon the superintendent by this chapter. Failure topay the examination fee within thirty days of receipt of demand from the superintendentshall subject the licensee to a late fee of five percent of the amount of the examination feefor each day the payment is delinquent. [C66, 71, 73, 75, 77, 79, 81, §536A.15]87 Acts, ch 11, §3; 2006 Acts, ch 1042, §45; 2023 Acts, ch 19, §2758Referred to in §536A.30, 537.2305Subsection 4 amended Sat Dec 23 01:39:18 2023 Iowa Code 2024, Section 536A.15 (16, 1)