Iowa Code § 524.531
Loaning on its own shares
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2022
As of January 1, 2012
A state bank shall not make any loan or extension of credit on the security of the shares of its own capital, unless such security is necessary to prevent loss upon a debt previously contracted in good faith.
A state bank shall not make any loan or extension of credit on the security of the shares of its own capital, unless such security is necessary to prevent loss upon a debt previously contracted in good faith.
95 Acts, ch 148, §48
95 Acts, ch 148, §48
CS 95, §524.531
CS95, §524.531
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.