Statutes > Iowa Statutes > Title 13 - Commerce > Subtitle 2 - Financial Institutions > CHAPTER 533 - CREDIT UNIONS > 533.311 - ACCEPTANCE OF DEPOSITS AND INVESTMENTS WHILE INSOLVENT.

533.311 - ACCEPTANCE OF DEPOSITS AND INVESTMENTS WHILE INSOLVENT.

        533.311  ACCEPTANCE OF DEPOSITS AND INVESTMENTS WHILE      INSOLVENT.         When a state credit union is insolvent, the state credit union      shall not do either of the following:         1.  Accept any deposits or investments in ownership shares.         2.  Renew or extend the term of any time deposits or time      investments.
         Section History: Recent Form
         2007 Acts, ch 174, §42