Iowa Code 524.306 – Incorporation or organization of state bank
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Terms Used In Iowa Code 524.306
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
524.306 Incorporation or organization of state bank.
1. Unless a delayed effective date or time is specified, the corporate or organizational
existence of a state bank begins when the articles of incorporation, with the superintendent’s approval indicated on the articles of incorporation, are filed with the secretary of state.
2. The secretary of state’s filing of the articles of incorporation is conclusive proof that the incorporators or organizers satisfied all conditions precedent to incorporation or organization, except in a proceeding instituted by the superintendent to cancel or revoke the incorporation or involuntarily dissolve the corporation or organization.
[C97, §1842, 1863; S13, §1842; C24, 27, 31, 35, 39, §9158, 9205; C46, 50, 54, 58, 62, 66,
§526.4, 527.4; C71, 73, 75, 77, 79, 81, §524.306]
90 Acts, ch 1205, §38; 91 Acts, ch 211, §11; 95 Acts, ch 148, §25; 96 Acts, ch 1034, §50; 2004
Acts, ch 1141, §55; 2022 Acts, ch 1062, §33
1. Unless a delayed effective date or time is specified, the corporate or organizational
existence of a state bank begins when the articles of incorporation, with the superintendent’s approval indicated on the articles of incorporation, are filed with the secretary of state.
2. The secretary of state’s filing of the articles of incorporation is conclusive proof that the incorporators or organizers satisfied all conditions precedent to incorporation or organization, except in a proceeding instituted by the superintendent to cancel or revoke the incorporation or involuntarily dissolve the corporation or organization.
[C97, §1842, 1863; S13, §1842; C24, 27, 31, 35, 39, §9158, 9205; C46, 50, 54, 58, 62, 66,
§526.4, 527.4; C71, 73, 75, 77, 79, 81, §524.306]
90 Acts, ch 1205, §38; 91 Acts, ch 211, §11; 95 Acts, ch 148, §25; 96 Acts, ch 1034, §50; 2004
Acts, ch 1141, §55; 2022 Acts, ch 1062, §33