523A.205 - FINANCIAL INSTITUTION ANNUAL REPORTING REQUIREMENTS.
523A.205 FINANCIAL INSTITUTION ANNUAL REPORTING REQUIREMENTS. 1. A financial institution shall file with the commissioner not later than March 1 of each year an annual report on a form prescribed by the commissioner showing all funds deposited by a seller under a trust agreement during the previous year. Each report shall contain all information requested. 2. Forms may be obtained from the commissioner upon request. The commissioner may accept annual reports submitted in an electronic format, including but not limited to computer diskettes. 3. Notwithstanding chapter 22, all records maintained by the commissioner under this section shall be confidential and shall not be made available for inspection or copying except upon approval of the commissioner or the attorney general.
Section History: Recent Form 2001 Acts, ch 118, §23; 2007 Acts, ch 175, §53