HF 136: Relating to matters under the purview of the banking division of the department of commerce, including permissible investments, notice requirements, and requirements for a person obtaining control of a state bank

What it does

This bill relates to matters under the purview of the banking division of the department of commerce, including permissible investments, notice requirements, and requirements for a person obtaining control of a state bank.141. The bill provides that a person obtaining control of a state bank shall not jeopardize the interests of the bank, including the state bank’s plans to accept deposits, lend money, and process payments in the area that the state bank primarily serves.901(7)(a).901(7)(a) shall be limited to percent of the bank’s aggregate capital.

Senate subcommittee · named March 14, 2023

• Sen. David D. Rowley (R) · david.rowley@legis.iowa.gov
• Sen. Eric Giddens (D)
• Sen. Jason Schultz (R) · jason.schultz@legis.iowa.gov

Lobbying · 2 for, 0 against

For: Community Bankers of Iowa; Iowa Division of Banking

In plain words

1. January 26, 2023Filed in the House
2. March 6, 2023Passed the House, 92–0
3. March 7, 2023Sent to the Senate Commerce committee
4. March 14, 2023Senate subcommittee named: Rowley, Giddens and Schultz
5. March 15, 2023Subcommittee recommended passing it
6. March 21, 2023Approved by the Senate committee
7. April 19, 2023Passed the Senate, 50–0
8. April 28, 2023Sent to the Governor
9. April 28, 2023Signed into law