Iowa Code § 524.542
Dividends
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2022
As of January 1, 2012
1. The board of directors of a state bank may, from time to time, declare, and the state bank may pay, dividends on its outstanding shares subject to the restrictions of this chapter and to the restrictions, if any, in its articles of incorporation. Dividends may be declared and paid only out of undivided profits and may be paid in cash or property.
1. The board of directors of a state bank may, from time to time, declare, and the state bank may pay, dividends on its outstanding shares subject to the restrictions of this chapter and to the restrictions, if any, in its articles of incorporation. Dividends may be declared and paid only out of undivided profits and may be paid in cash or property.
2. A dividend shall not be declared or paid if restricted by the superintendent.
2. A dividend shall not be declared or paid if restricted by the superintendent.
95 Acts, ch 148, §57
95 Acts, ch 148, §57
CS 95, §524.542
CS95, §524.542
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.