Iowa Admin. Code r. 189-3.7

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 189-3.7 - Superintendent oversight of methods and procedures of membership vote

(1) The superintendent shall issue a determination that the methods and procedures applicable to the membership vote are approved or disapproved within ten calendar days of receipt from the credit union of the certification of the result of the membership vote required under 189-3.6 (533).

(2) If the superintendent disapproves of the methods by which the membership vote was taken or the procedures applicable to the membership vote, the superintendent may direct that a new vote be taken at a time and place acceptable to the board of directors and the superintendent.

(3) The superintendent's review of the methods by which the membership vote was taken and the procedures applicable to the membership vote includes determining that the notice to members is accurate and not misleading, that all notices required by these rules were timely, and that the membership vote was conducted in a fair and legal manner.

Iowa Admin. Code r. 189-3.7

ARC 0938C, IAB 8/7/2013, effective 9/15/2013