1. A state bank may, with the approval of the superintendent, increase its capital structure or effect an allocation of amounts within its capital structure, by the use of any of the following methods:
a. Sale of authorized but unissued shares.
b. Transfer of surplus or undivided profits to capital for authorized but unissued shares.
c. Transfer of undivided profits to surplus.
d. Authorization and issuance of common shares, preferred shares, or capital notes or debentures as provided in section 524.404.
2. Whenever it shall appear necessary to do so in the interest of the safety of the deposits of a state bank, the superintendent may require that the capital structure of the state bank be increased by either of the methods provided for in paragraphs "a" and "d" of subsection 1.
3. Neither capital nor surplus shall be decreased except with the approval of the superintendent.
[C97, § 1856; C24, 27, 31, 35, 39, § 9194, 9262, 9264, 9265; C46, 50, 54, 58, 62, 66, § 526.38, 528.56, 528.59, 528.60; C71, 73, 75, 77, 79, 81, § 524.405]
Referred to in § 524.501, 524.517
Iowa General Assembly
Search: Iowa Code 1995
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