Iowa Code § 524.543
Distribution of shares of state bank
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, subject to the provisions of section 524.405, distribute pro rata to holders of common shares authorized but unissued common shares of the state bank.
1. The board of directors of a state bank may, subject to the provisions of section 524.405, distribute pro rata to holders of common shares authorized but unissued common shares of the state bank.
2. A distribution shall not be made in authorized but unissued shares of the state bank unless an amount equal to the total par value of the shares distributed is transferred to capital.
2. A distribution shall not be made in authorized but unissued shares of the state bank unless an amount equal to the total par value of the shares distributed is transferred to capital.
95 Acts, ch 148, §58
95 Acts, ch 148, §58
CS 95, §524.543
Referred to in
CS95, §524.543
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.