Iowa Admin. Code r. 189-13.1 - Powers of superintendent or special deputy superintendent

When the superintendent takes control of a credit union pursuant to Iowa Code sections 533.501 and 533.502, the superintendent or the superintendent's special deputy shall have the power to operate and direct the affairs of the credit union in its regular course of business which shall include, but not be limited to:

1. Approval, disapproval and administration of loans;

2. Approval, disapproval and administration of deposits and investments;

3. Approval, disapproval and administration of borrowing;

4. Making, administering and terminating contracts;

5. Purchase, sale and disposal of real and personal property;

6. Filing and defending legal actions and claims;

7. Hiring, supervising and firing employees, agents and consultants;

8. Causing examinations and audits; and

9. Taking any actions necessary to maintain insurance and protect property.

Notes

Iowa Admin. Code r. 189-13.1