General Assembly: 75 (1993 Regular GA) - Chapter 96 - Thrift certificates


Published: 1993-05-04

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191 LAWS OF THE SEVENTY -FIFTH G.A., 1993 SESSION

CHAPTER 96 THRIFT CERTIFICATES

S.F. 180

CH. 97

AN ACT relating to thrift certificates and their exemption from certain filing and registra- tion requirements.

Be It Enacted by the General Assembly of the State of Iowa:

Section 1. Section 536A.22, Code 1993, is amended to read as follows: 536A.22 THRIFT CERTIFICATES. Licensed industrial loan companies may sell senior debt to the general public in the form

of thrift certificates, installment thrift certificates, certificates of indebtedness, promissory notes or similar evidences of indebtedness. The total amount of such thrift certificates, install- ment thrift certificates, certificates of indebtedness, promissory notes or similar evidences of indebtedness outstanding and in the hands of the general public shall not at any time exceed ten times the total amount of capital, surplus, undivided profits and subordinated debt that gives priority to such securities of the issuing industrial loan company. The sale of such secu- rities shall be~ subject to the provisions of chapter 502 and rules adopted !!I the superinten- dent of banking pursuant to chapter 17 A, and shall not be construed to be exempt by reason of the provisions of section 502.202, subsection 10, except that the sale of thrift certificates or installment thrift certificates which are redeemable by the holder either upon demand or within a period not in excess of &Be lmBdPed eighty day& five years are exempt from sections 502.201 and 502.602.

Approved May 4, 1993

CHAPTER 97 lOW A INVESTS PROGRAM - WELFARE REFORM AND RELATED MATTERS

S.F. 268

AN ACT creating an Iowa invests program and providing related provisions including applica- bility provisions, and effective dates.

Be It Enacted by the General Assembly of the State of Iowa:

DIVISION I lOW A INVESTS - lOW A COUNCIL ON HUMAN INVESTMENT

Section 1. NEW SECTION. 8A.2 IOWA COUNCIL ON HUMAN INVESTMENT. An Iowa council on human investment is established to define a human service agenda for

the state and to propose benchmarks for the strategic goals of the state identified by the coun- cil. The governor or the governor's designee shall be a member and chairperson of the council and the council shall consist of eight other members appointed by the governor, subject to confirmation by the senate. The appointments shall be made in a manner so that all of the state's congressional districts are represented along with the ethnic, cultural, social, and eco- nomic diversity of the state. Terms of office of members other than the governor are three years. Council members shall be reimbursed for actual and necessary expenses incurred in performance of their duties. Members may also be eligible to receive compensation as provided in section 7E.6. The governor shall assign staffing services to the council which may include the staff identified by the director of the department of management. The council shall do all of the following: