|To contact a board member via mail, please address any correspondence to:
Department of Commerce Division of Credit Unions
200 E. Grand Ave.
Des Moines, IA 50309
Attn: Board Member Name
Iowa Credit Union Codebook: Iowa Credit Union League February 2008
533.107 Credit Union Review Board.
1. A credit union review board is created. The review board shall consist of
seven members, five of whom shall have been members in good standing for at
least the previous five years of either an Iowa state chartered credit union,
or a credit union chartered under the Federal Credit Union Act and having its
principal place of business in Iowa. Two of the members may be public members;
however, at no time shall more than five of the members be directors or
employees of a credit union. The members shall serve for three-year staggered
terms beginning and ending as provided by section 69.19.
2. The members of the review board shall be appointed by the governor subject to
confirmation by the senate. The governor may appoint the members of the board
from a list of nominees submitted to the governor by the credit unions located
in the state of Iowa.
3. The review board shall meet at least four times each year and shall hold special
meetings at the call of the chairperson. Four members constitute a quorum.
4. Each member of the review board shall receive actual and neccessary expenses
incurred in the discharge of official duties. Each member of the review board may also
be eligible to receive compensation as provided in section 7E.6.
5. A member of the review board shall not take part in any action
or participate in any decision when the matter under consideration specifically
relates to a credit union of which the review board member is a member.
6. The review board may adopt rules pursuant to chapter 17A or take
other action as it deems neccessary or suitable, to administer this chapter.