Prohibitions applicable to certain financial transactions involving directors
Known as the Iowa Banking Act
The act spans §§ 524–524 (225 sections).
[C31, 35, §9221-c3; C39, §9221.3; C46, 50, 54, 58, 62, 66, §528.10; C71, 73, 75, 77, 79, 81, §524.613]
A director of a state bank shall not receive anything of value, other than compensation and expense reimbursement authorized by section 524.610, for procuring, or attempting to procure, any loan or extension of credit, as defined in section 524.904, to the state bank or for procuring, or attempting to procure, an investment by the state bank.
95 Acts, ch 148, §69; 2017 Acts, ch 138, §4
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.