1. The name of a state bank originally incorporated after the effective date of this chapter shall include the word "bank" and may include the word "state" or "trust" in its name. If a state bank uses the word "trust" in its name, it must be authorized under this chapter to act in a fiduciary capacity.
2. The provisions of this section shall not require any state bank, existing and operating on January 1, 1970, to add to, modify or otherwise change its corporate name, either on January 1, 1970, or upon renewal of its corporate existence pursuant to section 524.106.
3. If a state bank existing and operating on January 1, 1970, causes its corporate name to be changed, the name as changed shall comply with subsection 1 of this section.
4. a. A person may reserve the exclusive use of a corporate name for a state bank by delivering an application to the secretary of state for filing. The application must set forth the name and address of the applicant and the name proposed to be reserved. If the secretary of state finds that the corporate name applied for is available, the secretary of state shall reserve the name for the applicant's exclusive use for a nonrenewable one hundred twenty day period.
b. The owner of a reserved corporate name may transfer the reservation to another person by delivering to the secretary of state a signed notice of the transfer that states the name and address of the transferee.
[C97, § 1861, 1889; S13, § 1889, 1889-i; C24, 27, 31, 35, 39, § 9202, 9261, 9295, 9296; C46, 50, 54, 58, 62, 66, § 527.1, 528.54, 532.12, 532.13; C71, 73, 75, 77, 79, 81, § 524.310]
84 Acts, ch 1202, § 1; 91 Acts, ch 11, §1; 91 Acts, ch 258, §61
Iowa General Assembly
Search: Iowa Code 1995
© 1996 Cornell College and League of Women Voters of Iowa
Comments? webmaster@legis.iowa.gov.
Last update: Thu Feb 8 18:14:51 CST 1996
URL: /IACODE/1995/524/310.html
jhf