Bills › 90th General Assembly

SF 196Died when the session ended · February 2, 2023

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

Sponsored by the Senate Commerce (companion To Hf 136 By Committee on Commerce) Committee

Topics:Business & economyState government

Same legislation: SSB 1021, HSB 30, HF 136

Where it is now

  1. Done: IntroducedJanuary 10, 2023
  2. Done: SubcommitteeJanuary 11, 2023
  3. Done: Senate committeeFebruary 2, 2023
  4. Done: Passes the SenateApril 19, 202350–0
  5. Skipped: House committeeSkipped
  6. Done: Passes the HouseMarch 6, 202392–0
  7. Done: To the GovernorApril 28, 2023
  8. Done: Signed into lawApril 28, 2023

HF 136 became law → The same legislation passed as HF 136, so this version was set aside. Go to HF 136 What’s a funnel?

What’s in it

AI summary New rules would allow state banks to send official notices using any approved method instead of only through mail or in person. People who take control of a state bank must ensure they do not hurt the bank's ability to handle deposits, loans, or payments for its local customers. The law also sets a limit on how much of a bank's total money can be put into certain types of investments.1

Read the official explanation

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. Current law provides that a bank is limited to percent of the bank’s aggregate capital.

Full bill text · What changed before it passed2

Senate subcommittee

Named March 1, 2023. It hasn’t reported yet.

Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part

Iowa Code it changes

Amends§524.1308A§524.533§524.544§524.607§524.901

How the Code works3

Lobbying

2 for · 0 against · 5 undecided · Who →

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