Text: S05215 Text: S05217 Text: S05200 - S05299 Text: S Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN
1 1 Amend Senate File 2362 as follows:
1 2 #1. Page 12, by inserting after line 21 the
1 3 following:
1 4 "Sec. . Section 524.1802, subsection 1, Code
1 5 1995, is amended to read as follows:
1 6 1. a. A bank holding company shall not directly
1 7 or indirectly acquire ownership or control of more
1 8 than twenty-five percent of the voting shares of a
1 9 bank, savings and loan association, or savings bank,
1 10 or the power to control in any manner the election of
1 11 a majority of the directors of a bank, savings and
1 12 loan association, or savings bank if upon the
1 13 acquisition the banks, savings and loan associations,
1 14 and savings banks so owned or controlled by the bank
1 15 holding company would have, in the aggregate, more
1 16 than ten percent, or such greater percentage as
1 17 determined under paragraph "b", of the total time and
1 18 demand deposits of all banks, savings and loan
1 19 associations, and savings banks in this state, as
1 20 determined by the superintendent on the basis of the
1 21 most recent reports of the banks, savings and loan
1 22 associations, and savings banks in the state to their
1 23 supervisory authorities which are available at the
1 24 time of the acquisition.
1 25 b. The percentage limitation set forth in
1 26 paragraph "a" shall be thirteen percent for purposes
1 27 of an acquisition which includes only an office which
1 28 is located within a county with a population of more
1 29 than thirty-three thousand or which the bank holding
1 30 company agrees in writing with the superintendent to
1 31 dispose of or close within three years of the
1 32 acquisition.
1 33 c. If the federal reserve board determines in an
1 34 application for approval of an acquisition pursuant to
1 35 12 U.S.C. } 1842(d), that any part of paragraph "b" is
1 36 a limitation which is not permitted by 12 U.S.C. }
1 37 1842(d)(2)(C), paragraph "b", in its entirety, shall
1 38 not apply to such acquisition."
1 39 #2. By renumbering as necessary.
1 40
1 41
1 42
1 43 MICHAEL E. GRONSTAL
1 44
1 45
1 46
1 47 JOANN DOUGLAS
1 48 SF 2362.501 76
1 49 mj/jw
Text: S05215 Text: S05217 Text: S05200 - S05299 Text: S Index Bills and Amendments: General Index Bill History: General Index
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