533.115 Reciprocity.
70 words·~1 min read·
/ia/chapter-533-credit-unions/533-115·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. Subject to rules of the superintendent, a credit union organized in another state may do business in Iowa if state credit unions organized in Iowa may do business in the state in which the out-of-state credit union is organized.
2. Notwithstanding subsection 1, an out-of-state credit union shall meet the same deposit insurance requirements established by this chapter for a state credit union prior to doing business in Iowa.