Statutes > Iowa Statutes > Title 1 - State Sovereignty and Management > Subtitle 4 - Executive Branch > CHAPTER 12C - DEPOSIT OF PUBLIC FUNDS > 12C.27 - FAILURE TO MAINTAIN REQUIRED COLLATERAL.

12C.27 - FAILURE TO MAINTAIN REQUIRED COLLATERAL.

        12C.27  FAILURE TO MAINTAIN REQUIRED COLLATERAL.
         If the treasurer of state determines that a bank fails to comply
      with section 12C.22, subsections 2 and 3, the treasurer of state may
      restrict that bank from accepting uninsured public funds and shall
      notify the office of thrift supervision, the office of the
      comptroller of the currency, or the superintendent as applicable, who
      may take such action against the bank, its board of directors and
      officers as permitted by law.
         Section History: Recent Form
         2002 Acts, ch 1096, §13, 17; 2003 Acts, ch 179, §93