Any state bank may utilize a satellite terminal, as defined in section 527.2, when that satellite terminal is lawfully being operated, at any location within this state. Any transaction engaged in through the use of a satellite terminal shall be deemed to take place at the principal place of business of a bank whose accounts and records are affected by the transaction.
Iowa Code § 524.1212
Location of satellite terminals
Known as the Iowa Banking Act
The act spans §§ 524–524 (225 sections).
[C77, 79, 81, §524.1212; 81 Acts, ch 173, §8] 2001 Acts, ch 4, §6, 11
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.