A subscription for shares of a state bank to be incorporated pursuant to the provisions of this chapter shall be irrevocable for a period of six months, or for such longer period as is provided for by the terms of the subscription agreement, unless all of the subscribers consent to the revocation of such subscription.
Unless otherwise provided in the subscription agreement, subscriptions for shares, whether made before or after incorporation of a state bank, shall be paid in full at such time as shall be determined by the board of directors.
The call for payment by the board of directors on subscriptions shall be uniform as to all shares of the same class.
[C71, 73, 75, 77, 79, 81, § 524.504]
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/1995/524/504.html
jhf