Iowa Admin. Code r. 189-15.3 - Exhibits

Attached to the application submitted pursuant to 15.2(1) shall be the following exhibits:

(1) Reserved.

(2) A schedule of interest rates to be charged on loans to be made to the residents of this state, a statement that the applicant understands the provisions of Iowa Code chapter 537, and a copy of that portion of the applicable law under which the credit union operates establishing maximum interest rates.

(3) Evidence that the credit union members' share and deposit accounts are insured by Title II of the Federal Credit Union Act (12 U.S.C. Sees. 1781et seq.) or other comparable insurance acceptable to the superintendent. (See rule 189-151(17A).)

(4) Evidence that the credit union has obtained surety bond coverage and fidelity bond coverage as required by the laws of the state under which the credit union operates.

(5) A letter from the supervisory agency indicating the credit union is in good standing in the state where the principal office is located.

(6) A copy of the last report, audit or examination by the applicable regulatory or supervisory agency and response to that report, audit or examination, if such response was required.

(7) If the credit union operates on a fiscal year different from the calendar year, a statement indicating the period covered by the credit union's last fiscal year.

(8) A copy of the audited balance sheet and income statement, prepared by an independent accountant or certified public accountant, for the most recently completed calendar or fiscal year.

(9) A copy of the most recent month-end balance sheet and income statement.

(10) Statistics indicating the present number of members in the credit union, the total number of persons eligible for membership, the number of persons eligible for membership in Iowa, and the number of members residing in Iowa.

(11) A statement of exact present field of membership and the location of any branch offices in Iowa as well as any proposed field of membership, if a change is to be made concurrently with the establishment of the branch office.

(12) Copy of articles of incorporation.

(13) Copy of official bylaws.

(14) An analysis of delinquent loans prepared as of the date of the most recent financial statements.

(15) A report of the names, addresses and telephone numbers of the person(s) managing each branch office in this state.

(16) The language to be used in connection with the credit union's name in Iowa.

(17) A copy of a resolution of the board of directors agreeing to keep the superintendent or the superintendent's duly designated representative advised at all times of the address at which the books, accounts, papers, records, files, safes and vaults are located in Iowa and the office hours of the credit union. (See 189-15.8 (533)).

Notes

Iowa Admin. Code r. 189-15.3