Notice of Intended Action

Required fees, 2.19

Untitled document

ARC 7576C

BANKING DIVISION[187]

Notice of Intended Action

Proposing rulemaking related to required fees

and providing an opportunity for public comment

The Iowa Division of Banking (IDOB) hereby proposes to amend Chapter 2, "Application Procedures," Iowa Administrative Code.

Legal Authority for Rulemaking

This rulemaking is proposed under the authority provided in Iowa Code section 524.213.

State or Federal Law Implemented

This rulemaking implements, in whole or in part, Iowa Code sections 524.213, 524.303, 524.305, 524.312, 524.544, 524.802A, 524.1201, 524.1303, 524.1309, 524.1401, 524.1402, 524.1403, 524.1404, 524.1405, 524.1410, 524.1413, 524.1415, 524.1505, 524.1508 and 524.1509.

Purpose and Summary

This proposed rule codifies the administrative fees the IDOB has adopted for banks when filing certain corporate applications. The proposed fees are identical to the fees the IDOB currently charges for the specified applications but which have not previously been adopted by rule.

Fiscal Impact

This rulemaking has no fiscal impact to the State of Iowa. All fees the IDOB collects in connection with corporate applications filed by banks effectively reduce the amount of the quarterly assessments the IDOB charges to all state banks to cover the IDOB's operating expenses, enabling the IDOB to collect the same total amount of funds for operations.

Jobs Impact

After analysis and review of this rulemaking, no impact on jobs has been found.

Waivers

Any person who believes that the application of the discretionary provisions of this rulemaking would result in hardship or injustice to that person may petition the IDOB for a waiver of the discretionary provisions, if any, pursuant to 187—Chapter 12.

Public Comment

Any interested person may submit written comments concerning this proposed rulemaking. Written comments in response to this rulemaking must be received by the IDOB no later than 4:30 p.m.on February 27, 2024. Comments should be directed to:

Zak Hingst

Iowa Division of Banking

200 East Grand Avenue, Suite 300

Des Moines, Iowa 50312

Phone: 515.242.0332

Email: zak.hingst@idob.state.ia.us

Public Hearing

No public hearing is scheduled at this time. As provided in Iowa Code section 17A.4(1)"b," an oral presentation regarding this rulemaking may be demanded by 25 interested persons, a governmental subdivision, the Administrative Rules Review Committee, an agency, or an association having 25 or more members.

Review by Administrative Rules Review Committee

The Administrative Rules Review Committee, a bipartisan legislative committee which oversees rulemaking by executive branch agencies, may, on its own motion or on written request by any individual or group, review this rulemaking at its regular monthly meeting or at a special meeting. The Committee's meetings are open to the public, and interested persons may be heard as provided in Iowa Code section 17A.8(6).

The following rulemaking action is proposed:

Item 1. Adopt the following new rule 187—2.19(17A,524):

187—2.19(17A,524) Required fees. The following is a schedule of the fees for corporate applications filed by state banks adopted by the superintendent:

Establish a bank office:

$2,000

Establish a mobile bank office, courier service, or convenience office:

$2,000

Relocate principal place of business:

$1,050

Relocate a bank office:

$1,000

Conversion to a state bank:

$5,050 + examination fee

Merger:

Two banks:

$3,050

More than two banks (for each additional bank):

$1,500

Bank holding company into state bank:

$1,550

Voluntary dissolution:

$5,550

Purchase and assumption of assets and liabilities:

$3,000

New (de novo) state bank:

$15,050

Reverse stock split:

$2,050

Change in bank control:

$1,000

Failure resolutions:

Acquisition by de novo group:

$5,500

Acquisition by existing bank, bank holding

company, or experienced group:

$3,000

Amendment or restatement of articles of incorporation:

Review and file documents with secretary

of state not in conjunction with a pending application

(example: amendments):

$550

Review and file documents with secretary

of state in conjunction with a conversion to

or merger with a national bank or thrift:

$550

State bank merger into out-of-state bank or national bank:

$505

Certificate of Good Standing or Proof of Official Records:

$25

This rule is intended to implement Iowa Code sections 524.213, 524.303, 524.305, 524.312, 524.544, 524.802A, 524.1201, 524.1303, 524.1309, 524.1401, 524.1402, 524.1403, 524.1404, 524.1405, 524.1410, 524.1413, 524.1415, 524.1505, 524.1508 and 524.1509.

Banking Division

Regulated financial and professional services are provided to Iowans in a fair and competitive marketplace.


This Organization is a part of the Commerce Department

Open For Comments

This notice is open for comments for 2 more day(s). If you'd like to comment, select or click the text you wish to comment on in the document, or click the button below to make a general comment about the document. Comments will be collected through 2/27/2024

NOTE: You can also click the text in the document to make comments about specific sections.

Official Document

The official published PDF of this document is available from the Iowa General Assembly’s Administrative Rules page.

View Official PDF

View the Iowa Administrative Bulletin for 2/7/2024.

View Bulletin

Administrative Rule References

The following administrative rule references were added to this document. You may click a reference to view related notices.

Rule 187-2.19

Keywords

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Required fees
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