Iowa Administrative Rule Changes

5/15/2018

The Iowa Administrative Rules Review Committee has finalized several rules that provide clarification and additional flexibility under state law for Iowa credit unions. None of these rules require a credit union to make specific changes to their operations. However, credit unions should review the rules to become familiar with the clarifications and added flexibility. The rules amend Chapters 12 and 17 of the Iowa Administrative Code (IAC), and provide guidance on previous rules passed during the 2017 legislative session, including SF502 and SF505.

Effective May 16, 2018

  • Votes of the Membership
  • Charitable Donation Accounts
  • Board and Employee Overdrafts

Effective May 30, 2018

  • First-Time Homebuyer Accounts

Click here to read the Admin Rule Summary from PolicyWorks. This link can also be found on the PolicyWorks members-only website under "State Resources".

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