A state bank may effect a reverse stock split or similar change in capital structure by renewal, amendment, or restatement of existing articles of incorporation, provided the requirements of the superintendent are satisfied.
95 Acts, ch 148, §132
Iowa Code § 524.1509
Reverse stock split
Known as the Iowa Banking Act
The act spans §§ 524–524 (225 sections).
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.