The superintendent may adopt rules to ensure that a state bank incorporated as a mutual corporation is operating in a safe and sound manner and is subject to the superintendent’s authority in the same manner as a state bank incorporated as a stock corporation.
Iowa Code § 524.316
State banks as mutual corporations
Known as the Iowa Banking Act
The act spans §§ 524–524 (225 sections).
2012 Acts, ch 1017, §6, 18
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.