Text: HF00248 Text: HF00250 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 524.1802, subsection 1, Code 1995, is 1 2 amended to read as follows: 1 3 1. A bank holding company shall not directly or indirectly 1 4 acquire ownership or control of more than twenty-five percent 1 5 of the voting shares of a bank, savings and loan association, 1 6 or savings bank, or the power to control in any manner the 1 7 election of a majority of the directors of a bank, savings and 1 8 loan association, or savings bank if upon the acquisition the 1 9 banks, savings and loan associations, and savings banks so 1 10 owned or controlled by the bank holding company would have, in 1 11 the aggregate, more thantenfifteen percent of the total time 1 12 and demand deposits of all banks, savings and loan 1 13 associations, and savings banks in this state, as determined 1 14 by the superintendent on the basis of the most recent reports 1 15 of the banks, savings and loan associations, and savings banks 1 16 in the state to their supervisory authorities which are 1 17 available at the time of the acquisition. 1 18 Sec. 2. EFFECTIVE DATE. This Act takes effect September 1 19 29, 1995. 1 20 EXPLANATION 1 21 This bill amends section 524.1802 relating to the 1 22 limitations on a bank holding company's ability to acquire a 1 23 bank, savings and loan association, or savings bank. The bill 1 24 increases the percentage of the total time and demand deposits 1 25 which a bank holding company may acquire in the aggregate from 1 26 10 percent to 15 percent. 1 27 The bill is effective September 29, 1995. 1 28 LSB 1884HV 76 1 29 mj/jj/8
Text: HF00248 Text: HF00250 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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