ARC 7916C - Iowa Administrative Rules

Adopted and Filed

Required fees, 2.19

Untitled document

ARC 7916C

BANKING DIVISION[187]

Adopted and Filed

Rulemaking related to required fees

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

Legal Authority for Rulemaking

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

Public Comment and Changes to Rulemaking

Notice of Intended Action for this rulemaking was published in the Iowa Administrative Bulletin on February 7, 2024, as ARC 7576C. No public comments were received. No changes from the Notice have been made.

Adoption of Rulemaking

This rulemaking was adopted by the Superintendent of Banking on April 2, 2024.

Fiscal Impact

This rulemaking has no fiscal impact to the State of Iowa.

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.

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).

Effective Date

This rulemaking will become effective on June 5, 2024.

The following rulemaking action is adopted:

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