A copy of the opinion can be found at:
The Court also held that section 617.3 impermissibly discriminated against national banks in favor of state-chartered banks, because state-chartered banks were not required to obtain a certificate of authority for purposes of substitute service. The Court deemed it "especially discriminatory" to require national banks to obtain a certificate of authority in order to use Iowa's substitute service procedures, but not for purposes of conducting mortgage activities in Iowa. See Iowa Code § 490.1501(2(g),(h) (setting forth lending activities permitted in Iowa without certificate).
Ralph T. Wutscher
McGinnis Tessitore Wutscher LLP
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