Text: HF00445 Text: HF00447 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 524.1402, subsection 1, paragraph c,
1 2 Code 1995, is amended to read as follows:
1 3 c. The manner and basis of the converting of shares of
1 4 each bank into shares, obligations, or other securities of the
1 5 resulting bank or of any other corporation, or, in whole or in
1 6 part, into cash or other property. If the plan provides that
1 7 the shares of each bank are to be converted, in whole or in
1 8 part, into cash or other property, the plan shall provide an
1 9 option for converting such shares into shares, obligations, or
1 10 other securities of the resulting bank or of any other
1 11 corporation and that the manner in which the shares are to be
1 12 converted under the plan shall be at the option of the
1 13 shareholder.
1 14 EXPLANATION
1 15 This bill amends section 524.1402, subsection 1, and
1 16 provides that if a plan of merger involving a state bank
1 17 provides that the shares of each bank are to be converted, in
1 18 whole or in part, into cash or other property, the plan must
1 19 provide an option for converting such shares into shares,
1 20 obligations, or other securities of the resulting bank or of
1 21 any other corporation and that the manner in which the shares
1 22 are to be converted under the plan is to be at the option of
1 23 the shareholder.
1 24 LSB 2514YH 76
1 25 mj/jw/5
Text: HF00445 Text: HF00447 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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