Iowa Code 524.543 – Distribution of shares of state bank
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Terms Used In Iowa Code 524.543
- 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
524.543 Distribution of shares of state bank.
1. The board of directors of a state bank may, subject to the provisions of § 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.
[C71, 73, 75, 77, 79, 81, §524.517]
95 Acts, ch 148, §58
CS95, §524.543
Referred to in §524.524
1. The board of directors of a state bank may, subject to the provisions of § 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.
[C71, 73, 75, 77, 79, 81, §524.517]
95 Acts, ch 148, §58
CS95, §524.543
Referred to in §524.524