House Journal: Page 876: Tuesday, March 19, 2002
13 Sec. . Section 534.504, Code 2001, is amended
14 to read as follows:
15 534.504 MEETINGS OF STOCKHOLDERS.
16 Sections 490.701 through 490.731 490.732 apply to
17 stock associations.
18 Sec. . Section 534.605, subsection 4, Code
19 Supplement 2001, is amended to read as follows:
20 4. An association operating under this chapter may
21 indemnify any present or former director, officer, or
22 employee in the manner and in the instances authorized
23 in sections 490.850 through 490.858 490.859. If the
24 association is a mutual association, the references in
25 those sections to stockholder shall be deemed to be
26 references to members.
27 Sec. . Section 534.607, Code 2001, is amended
28 to read as follows:
29 534.607 INDEMNIFICATION.
30 Except as otherwise provided in section 534.602,
31 sections 490.850 through 490.858 490.859 apply to
32 associations incorporated under this chapter."
33 40. Page 98, line 32, by striking the figure
34 "490.832,".
35 41. By renumbering, redesignating, and correcting
36 internal references as necessary.
Shey of Linn offered the following amendment H-8320, to
amendment H-8256, filed by him and moved its adoption:
H-8320
1 Amend the amendment, H-8256, to House File 2509 as
2 follows:
3 1. Page 3, by inserting before line 29 the
4 following:
5 ""Sec. . NEW SECTION. 490.1108A CONSIDERATION
6 OF ACQUISITION PROPOSALS - COMMUNITY INTERESTS.
7 1. A director, in determining what is in the best
8 interest of the corporation when considering a tender
9 offer or proposal of acquisition, merger,
10 consolidation, or similar proposal, may consider any
11 or all of the following community interest factors, in
12 addition to consideration of the effects of any action
13 on shareholders:
14 a. The effects of the action on the corporation's
15 employees, suppliers, creditors, and customers.
16 b. The effects of the action on the communities in
17 which the corporation operates.
18 c. The long-term as well as short-term interests
19 of the corporation and its shareholders, including the
20 possibility that these interests may be best served by
21 the continued independence of the corporation.
© 2002 Cornell College and
League of Women Voters of Iowa
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