1. The minimum capital of a state bank existing and operating on January 1, 1970, shall be:
a. The amount required by subsection 2 of this section; or
b. Such lesser amount as the state bank had on January 1, 1970, but not less than the minimum amount required by law prior to such date.
2. The minimum capital of a state bank originally incorporated pursuant to the provisions of this chapter shall not be less than one hundred thousand dollars or such higher amount which the superintendent may deem necessary in view of the deposit potential of the state bank and current banking standards relating to total capital requirements.
[C97, § 1843, 1864; S13, § 1843, 1864; C24, 27, § 9160, 9206; C31, § 9217-c1; C35, § 9217-c1, 9283-f14; C39, § 9217.1, 9283.42; C46, 50, 54, 58, 62, 66, § 528.1, 528.127; C71, 73, 75, 77, 79, 81, § 524.401]
Referred to in § 524.403
Iowa General Assembly
Search: Iowa Code 1995
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