Text: HF00474 Text: HF00476 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 HOUSE FILE 475
1 2
1 3 AN ACT
1 4 RELATING TO THE ACQUISITION OF A BRANCH OF A SAVINGS
1 5 ASSOCIATION BY A NEWLY CHARTERED BANK AND PROVIDING
1 6 AN EFFECTIVE DATE.
1 7
1 8 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 9
1 10 Section 1. Section 524.1213, Code 1997, is amended by
1 11 adding the following new subsection:
1 12 NEW SUBSECTION. 4A. For purposes of subsection 3, a bank
1 13 that has been chartered solely for the purpose of, and does
1 14 not open for business prior to, acquiring control of, or
1 15 acquiring all or substantially all of the assets of, one or
1 16 more branches owned and operated on January 1, 1997, by a
1 17 savings association, as defined in 12 U.S.C. } 1813, which
1 18 association is an affiliate of the bank, is deemed to have
1 19 been in continuous existence and operation as a bank for the
1 20 combined periods of continuous existence and operation of the
1 21 bank and the savings association from which the branch or
1 22 branches were acquired.
1 23 Sec. 2. Section 524.1805, Code 1997, is amended by adding
1 24 the following new subsection:
1 25 NEW SUBSECTION. 3A. For purposes of subsection 1, a bank
1 26 that has been chartered solely for the purpose of, and does
1 27 not open for business prior to, acquiring control of, or
1 28 acquiring all or substantially all of the assets of, one or
1 29 more branches owned and operated on January 1, 1997, by a
1 30 savings association, as defined in 12 U.S.C. } 1813, which
1 31 association is an affiliate of the bank, is deemed to have
1 32 been in continuous existence and operation as a bank for the
1 33 combined periods of continuous existence and operation of the
1 34 bank and the savings association from which the branch or
1 35 branches were acquired.
2 1 Sec. 3. EFFECTIVE DATE. This Act, being deemed of
2 2 immediate importance, takes effect upon enactment.
2 3
2 4
2 5
2 6 RON J. CORBETT
2 7 Speaker of the House
2 8
2 9
2 10
2 11 MARY E. KRAMER
2 12 President of the Senate
2 13
2 14 I hereby certify that this bill originated in the House and
2 15 is known as House File 475, Seventy-seventh General Assembly.
2 16
2 17
2 18
2 19 ELIZABETH ISAACSON
2 20 Chief Clerk of the House
2 21 Approved , 1997
2 22
2 23
2 24
2 25 TERRY E. BRANSTAD
2 26 Governor
Text: HF00474 Text: HF00476 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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