Text: SSB02098                          Text: SSB02100
Text: SSB02000 - SSB02099               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index

Senate Study Bill 2099

Bill Text

PAG LIN
  1  1    Section 1.  Section 524.1202, subsections 2 and 3, Code
  1  2 1997, are amended to read as follows:
  1  3    2.  a.  A state bank may establish any number of bank
  1  4 offices within the municipal corporation or urban complex in
  1  5 which the principal place of business of the bank is located,
  1  6 subject to the following conditions and limitations:
  1  7    (1)  If the municipal corporation or urban complex has a
  1  8 population of one hundred thousand or less according to the
  1  9 most recent federal census, the state bank shall not establish
  1 10 more than four bank offices.
  1 11    (2)  If the municipal corporation or urban complex has a
  1 12 population of more than one hundred thousand but not more than
  1 13 two hundred thousand according to the most recent federal
  1 14 census, the state bank shall not establish more than five bank
  1 15 offices.
  1 16    (3)  If the municipal corporation or urban complex has a
  1 17 population of more than two hundred thousand according to the
  1 18 most recent federal census, the state bank shall not establish
  1 19 more than six bank offices.
  1 20    b.  For purposes of this subsection, "urban complex" means
  1 21 the geographic area bounded by the corporate limits of two or
  1 22 more municipal corporations, each of which being contiguous to
  1 23 or cornering upon at least one of the other municipal
  1 24 corporations within the complex.  A state bank located in a
  1 25 municipal corporation or urban complex which is located on a
  1 26 boundary of this state and contiguous to a municipal
  1 27 corporation in another state may have one bank office in
  1 28 addition to the number of bank offices permitted by paragraph
  1 29 "a"; provided that nothing contained in this paragraph
  1 30 authorizes a state bank to establish a bank office outside of
  1 31 the boundaries of this state.
  1 32    c.  One such facility located in the proximity of a state
  1 33 bank's principal place of business may be found by the
  1 34 superintendent to be an integral part of the principal place
  1 35 of business, and not a bank office within the meaning of this
  2  1 section.  This paragraph does not authorize more than one
  2  2 facility to be found to be an integral part of a bank's
  2  3 principal place of business.
  2  4    d.  One such facility located in the proximity of a state
  2  5 bank's office may be found by the superintendent to be an
  2  6 integral part of the bank office and not a bank office within
  2  7 the meaning of this section.  This paragraph does not
  2  8 authorize more than one facility to be found to be an integral
  2  9 part of a bank office.
  2 10    3.  Notwithstanding subsection 1, if the assets of a state
  2 11 or national bank in existence on January 1, 1989, are
  2 12 transferred to a different state or national bank in the state
  2 13 which is located in the same county or a county contiguous to
  2 14 or cornering upon the county in which the principal place of
  2 15 business of the acquired bank is located, the resulting or
  2 16 acquiring bank may convert to and operate as its bank office
  2 17 any one or more of the business locations occupied as the
  2 18 principal place of business or as a bank office of the bank
  2 19 whose assets are so acquired.  The limitations on bank office
  2 20 locations contained in unnumbered paragraph 1 of this section,
  2 21 and the limitation on the number of bank offices within the
  2 22 municipality or urban complex of the resulting or acquiring
  2 23 bank contained in subsection 2 shall be are applicable to any
  2 24 bank office otherwise authorized by this subsection.  A bank
  2 25 office established under the authority of this subsection is
  2 26 subject to the approval of the superintendent, and shall be
  2 27 operated in accordance with this chapter relating to the
  2 28 operation of bank offices, and may be augmented by an integral
  2 29 facility when approved under subsection 2, paragraph "d".
  2 30    Sec. 2.  Section 524.1213, subsection 3, paragraph d, Code
  2 31 Supplement 1997, is amended to read as follows:
  2 32    d.  May establish any number of additional bank offices
  2 33 within the municipal corporation or urban complex in which a
  2 34 united community bank office referred to in paragraph "b" is
  2 35 located, provided that the number of bank offices of the
  3  1 resulting bank within that municipal corporation or urban
  3  2 complex, including bank offices retained under paragraph "c"
  3  3 and bank offices established under the authority of this
  3  4 paragraph, but excluding the united community bank office,
  3  5 shall not exceed the maximum number of bank offices permitted
  3  6 by section 524.1202, subsection 2, paragraph "a", for a bank
  3  7 located within that municipal corporation or urban complex.
  3  8    Sec. 3.  Section 524.1213, subsection 12, Code Supplement
  3  9 1997, is amended by striking the subsection.  
  3 10                           EXPLANATION 
  3 11    This bill eliminates the restriction on the number of bank
  3 12 offices which a state or national bank can open within a
  3 13 municipal corporation or urban complex in which the principal
  3 14 place of business of the bank is located.  
  3 15 LSB 3869SC 77
  3 16 mj/jl/8

Text: SSB02098                          Text: SSB02100
Text: SSB02000 - SSB02099               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index

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