Iowa Administrative Code
Agency 187 - Banking Division
Chapter 16 - Industrial Loans
Rule 187-16.7 - Notice of Significant Events
Current through Register Vol. 47, No. 13, December 25, 2024
A licensee shall notify the administrator immediately and in writing within 10 days of the occurrence of any of the following events.
(1) The licensee or any of the licensee's officers, directors, principal stockholders, or affiliates file for bankruptcy protection.
(2) A prosecuting authority files criminal charges against the licensee or any of a licensee's officers, directors, principal stockholders, or affiliates.
(3) Another state or jurisdiction institutes license denial, cease and desist, suspension or revocation procedures, or other formal or informal regulatory action against the licensee or any of the licensee's officers, directors, principal stockholders, or affiliates.
(4) The attorney general of Iowa, the Federal Trade Commission, or the enforcer of the consumer protection laws of any other jurisdiction initiates an action to enforce the consumer protection laws against the licensee or any of the licensee's officers, directors, principal stockholders, or affiliates.