Iowa Code 524.316 – State banks as mutual corporations
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Terms Used In Iowa Code 524.316
- 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.
- 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
524.316 State banks as mutual corporations.
The superintendent may adopt rules to ensure that a state bank incorporated as a mutual
corporation is operating in a safe and sound manner and is subject to the superintendent’s authority in the same manner as a state bank incorporated as a stock corporation.
2012 Acts, ch 1017, §6, 18
The superintendent may adopt rules to ensure that a state bank incorporated as a mutual
corporation is operating in a safe and sound manner and is subject to the superintendent’s authority in the same manner as a state bank incorporated as a stock corporation.
2012 Acts, ch 1017, §6, 18