House Journal: Page 872: Tuesday, March 19, 2002
17 or a former director, officer, or employee of the
18 state bank in the manner and in the instances
19 authorized by sections 490.850 through 490.858
20 490.859.
21 Sec. . Section 524.1213, subsection 2, Code
22 Supplement 2001, is amended to read as follows:
23 2. A united community bank office formed under
24 this section shall have a united community bank office
25 board, at least one-half or more of the members of
26 which shall be residents of the county in which the
27 united community bank office is located. The
28 liability of the united community bank office board
29 shall be limited as provided in section 524.614. The
30 bank establishing and operating the united community
31 bank office may indemnify members of the united
32 community bank office board as agents of the bank in
33 the manner and in the instances authorized by sections
34 490.850 through 490.858 490.859.
35 Sec. . Section 524.1309, subsection 8, Code
36 2001, is amended to read as follows:
37 8. A shareholder of a state bank who objects to
38 adoption by the state bank of a plan to cease to carry
39 on the business of banking and to continue as a
40 corporation subject to chapter 490, is entitled to the
41 rights and remedies of a dissenting shareholder
42 appraisal rights provided for in chapter 490, division
43 XIII.
44 Sec. . Section 524.1402, subsection 2, Code
45 2001, is amended to read as follows:
46 2. In the case of a state bank which is a party to
47 the plan, if the proposed merger will result in a
48 state bank subject to this chapter, adoption of the
49 plan by such state bank requires the affirmative vote
50 of at least a majority of the directors and approval
Page 9
1 by the shareholders, in the manner and according to
2 the procedures prescribed in section 490.1103
3 490.1104, at a meeting called in accordance with the
4 terms of that section. In the case of a national
5 bank, or if the proposed merger will result in a
6 national bank, adoption of the plan by each party to
7 the merger shall require the affirmative vote of at
8 least such directors and shareholders whose
9 affirmative vote on the plan is required under the
10 laws of the United States. Subject to applicable
11 requirements of the laws of the United States in a
12 case in which a national bank is a party to a plan,
13 any modification of a plan which has been adopted
14 shall be made by any method provided in the plan, or
15 in the absence of such provision, by the same vote as
© 2002 Cornell College and
League of Women Voters of Iowa
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