Iowa Code § 524.1301
Dissolution by incorporators, organizers, or initial directors
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2025
As of January 1, 2012
A majority of the incorporators, organizers, or initial directors of a state bank that has not issued shares or has not commenced business may dissolve the state bank by delivering articles of dissolution to the superintendent, together with the applicable filing and recording fees, for filing with the secretary of state that set forth all of the following:
A majority of the incorporators, organizers, or initial directors of a state bank that has not issued shares or has not commenced business may dissolve the state bank by delivering articles of dissolution to the superintendent, together with the applicable filing fees, for filing with the secretary of state that set forth all of the following:
1. The name of the state bank.
1. The name of the state bank.
2. The date of its incorporation or organization.
2. The date of its incorporation or organization.
3. Either of the following:
3. Either of the following:
a. That the state bank has not issued any shares.
a. That the state bank has not issued any shares.
b. That the state bank has not commenced business.
b. That the state bank has not commenced business.
4. That no debt of the state bank remains unpaid.
4. That no debt of the state bank remains unpaid.
5. If shares were issued, that the net assets of the state bank remaining after the payment of all necessary expenses have been distributed to the shareholders.
5. If shares were issued, that the net assets of the state bank remaining after the payment of all necessary expenses have been distributed to the shareholders.
6. That a majority of the incorporators, organizers, or initial directors authorized the dissolution.
6. That a majority of the incorporators, organizers, or initial directors authorized the dissolution.
90 Acts, ch 1205, §40; 95 Acts, ch 148, §96; 2004 Acts, ch 1141, §67
90 Acts, ch 1205, §40; 95 Acts, ch 148, §96; 2004 Acts, ch 1141, §67; 2022 Acts, ch 1062, §102; 2023 Acts, ch 66, §133
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.