Section 187.2.5. Change of location of principal place of business or bank office.

       2.5(1) Application. A state bank desiring to relocate its principal place of business or a bank office shall submit to the superintendent an “Application to Move Main Office or Bank Office,” which is available upon request.

       2.5(2) Investigation. The superintendent may conduct an investigation as deemed necessary.

       2.5(3) Decision. The superintendent shall approve or deny the application within 180 days after the application has been accepted for processing. The decision by the superintendent shall be conveyed in writing to the applicant. If the application is approved, the superintendent shall issue the appropriate authorizations for the conduct of business at the new location.

This rule is intended to implement Iowa Code sections 524.312 and 524.1202.