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Iowa Code § 524.614

Honorary and advisory directors

Known as the Iowa Banking Act

The act spans §§ 524–524 (225 sections).

[C71, 73, 75, 77, 79, 81, §524.614]

The board of directors of a state bank may appoint an individual as an honorary director, director emeritus, or member of an advisory board. An individual so appointed shall not vote at any meeting of the board of directors, shall not be counted in determining a quorum, and shall not be charged with any responsibilities or be subject to any liabilities imposed upon directors by this chapter.

95 Acts, ch 148, §70

Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.