The pre-emptive right of a shareholder of common shares to acquire unissued common shares of a state bank or preferred shares and capital notes or debentures of a state bank which are convertible into common shares, shall not be limited or denied, except as provided in section 524.520. The pre-emptive right of holders of preferred shares to acquire unissued shares of a state bank may be limited or denied to the extent provided in the articles of incorporation or any amendment thereto. Any shares of a state bank purchased and acquired by such state bank, and held by it during the period permitted by this chapter, shall not be entitled to pre-emptive rights.
[C71, 73, 75, 77, 79, 81, § 524.506]
Referred to in § 524.302, 524.520
Iowa General Assembly
Search: Iowa Code 1995
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