Commission — Authority to Promulgate Rules and Regulations
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The commission shall have the authority to promulgate rules and regulations pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, as may be necessary to ensure compliance with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, and other federal law that may be applicable.
It is the intent of this chapter to enact policies, practices and procedures consistent with Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989. Under federal law, this chapter is subject to judicial review and review by the appraisal subcommittee of the federal financial institutions examination council. If any provision of this chapter or its application to any person or in any circumstance is declared by the appraisal subcommittee and a court of competent jurisdiction to be invalid or unenforceable, provisions constituting the remainder of the chapter and the application of those provisions to other persons and in other circumstances shall not be affected.