1. Immediately upon the adoption and approval of a plan of dissolution under section 524.1303 (or if the plan provides for continuance of the business of the state bank unless a purchase of its assets and an assumption of its liabilities becomes effective, immediately after such purchase and assumption becomes effective), the state bank shall deliver to the superintendent a statement of intent to dissolve which shall be signed by two of its duly authorized officers and which shall contain the name of the state bank, the post office address of its principal place of business, the name and address of its officers and directors, the number of shares entitled to vote on the plan of dissolution and the number of shares voted for or against the plan, respectively.
2. If the statement of intent to dissolve satisfies the requirements of this section, the superintendent shall deliver the statement with the superintendent's written approval to the secretary of state who shall issue to the state bank an approved copy of such statement. Upon the issuance of an approved copy of the statement of intent to dissolve, the state bank shall cease to accept deposits or carry on its business, except insofar as may be necessary for the proper winding up thereof in accordance with the approved plan, but its corporate existence shall continue until issuance of a certificate of dissolution pursuant to section 524.1308.
3. If the laws of the United States require approval by any federal agency, the superintendent shall withhold delivery of the approved statement of intent to dissolve until the superintendent receives notice of the decision of such agency. If the final approval of the agency is not given, the superintendent shall notify the applying state bank that the approval of the superintendent has been rescinded for that reason.
[C97, § 1857; S13, § 1857; C24, 27, 31, 35, 39, § 9277; C46, 50, 54, 58, 62, 66, § 528.76; C71, 73, 75, 77, 79, 81, § 524.1304]
Referred to in § 524.1309
Iowa General Assembly
Search: Iowa Code 1995
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