# Iowa Code § 533.107: Credit union review board > Iowa · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.107 ## Section - **Citation:** Iowa Code § 533.107 - **Heading:** Credit union review board - **Jurisdiction:** Iowa - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** IA Code / Title XIII / Chapter 533 / Section 533.107 ## Text (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, 12 U.S.C. §1751 et seq., 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 review board from a list of nominees submitted to the governor by the credit unions located in this state. (3) The review board shall hold meetings at the call of the chairperson. Four members constitute a quorum. (4) Each member of the review board shall receive actual and necessary 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 necessary or suitable, to administer this chapter. 2007 Acts, ch 174, §7; 2013 Acts, ch 90, §162; 2024 Acts, ch 1170, §115 ## Nearby sections - [Iowa Code § 533.101 Title.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.101.md) - [Iowa Code § 533.102 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.102.md) - [Iowa Code § 533.103 Credit union division created.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.103.md) - [Iowa Code § 533.104 Superintendent of credit unions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.104.md) - [Iowa Code § 533.105 Deputy superintendent.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.105.md) - [Iowa Code § 533.106 Employees.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.106.md) - [Iowa Code § 533.106A Background investigations.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.106A.md) - [Iowa Code § 533.107 Credit union review board.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.107.md) - [Iowa Code § 533.108 Records of credit union division.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.108.md) - [Iowa Code § 533.109 Insurance and surety bond.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.109.md) - [Iowa Code § 533.110 Reimbursement of expenses.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.110.md) - [Iowa Code § 533.111 Expenses of the credit union division.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.111.md) - [Iowa Code § 533.112 Annual and individual fees examination fees delinquencies.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.112.md) - [Iowa Code § 533.113 Examinations.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.113.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C533_S533.107. Check the current official text before relying on it. Not legal advice.