Text: S05311 Text: S05313 Text: S05300 - S05399 Text: S Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN 1 1 Amend House File 2409, as amended, passed, and 1 2 reprinted by the House, as follows: 1 3 #1. Page 12, by inserting after line 21 the 1 4 following: 1 5 "Sec. . Section 524.1802, subsection 1, Code 1 6 1995, is amended to read as follows: 1 7 1. a. A bank holding company shall not directly 1 8 or indirectly acquire ownership or control of more 1 9 than twenty-five percent of the voting shares of a 1 10 bank, savings and loan association, or savings bank, 1 11 or the power to control in any manner the election of 1 12 a majority of the directors of a bank, savings and 1 13 loan association, or savings bank if upon the 1 14 acquisition the banks, savings and loan associations, 1 15 and savings banks so owned or controlled by the bank 1 16 holding company would have, in the aggregate, more 1 17 than ten percent, or such greater percentage as 1 18 determined under paragraph "b", of the total time and 1 19 demand deposits of all banks, savings and loan 1 20 associations, and savings banks in this state, as 1 21 determined by the superintendent on the basis of the 1 22 most recent reports of the banks, savings and loan 1 23 associations, and savings banks in the state to their 1 24 supervisory authorities which are available at the 1 25 time of the acquisition. 1 26 b. The percentage limitation set forth in 1 27 paragraph "a" shall be thirteen percent for purposes 1 28 of an acquisition which includes only an office which 1 29 is located within a county with a population of more 1 30 than thirty-three thousand or which the bank holding 1 31 company agrees in writing with the superintendent to 1 32 dispose of or close within three years of the 1 33 acquisition. 1 34 c. If the federal reserve board determines in an 1 35 application for approval of an acquisition pursuant to 1 36 12 U.S.C. } 1842(d), that any part of paragraph "b" is 1 37 a limitation which is not permitted by 12 U.S.C. } 1 38 1842(d)(2)(C), paragraph "b", in its entirety, shall 1 39 not apply to such acquisition." 1 40 #2. By renumbering as necessary. 1 41 1 42 1 43 1 44 MICHAEL E. GRONSTAL 1 45 1 46 1 47 1 48 JOANN DOUGLAS 1 49 HF 2409.1 1 50 mj/cc/26
Text: S05311 Text: S05313 Text: S05300 - S05399 Text: S Index Bills and Amendments: General Index Bill History: General Index
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