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Iowa Code § 524.524

Consideration for shares

Iowa · Iowa Code Chapter 524 — Banks · Status: effective

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Iowa Code § 524.524, Consideration for shares, Iowa, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2269013
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Except in the case of a distribution of shares authorized by section 524.543 or shares issued upon exchanges or conversion, common or preferred shares of a state bank may be issued only for cash in an amount not less than that approved by the superintendent.