A state bank shall have, as officers, a president, one vice president, and a cashier. As additional officers the state bank may have a chairperson, additional presidents, additional vice presidents, assistant vice presidents, assistant cashiers, and other officers as may be prescribed by the articles of incorporation or the bylaws. Upon notice by the superintendent, an individual who performs active executive or official duties for a state bank may be treated as an officer for the purpose of this chapter. A state bank may have a chairperson of the board of directors and one vice president who, if they do not perform executive or official duties or receive a salary, need not be treated as officers for the purpose of this chapter. All officers shall be elected by the board of directors. No more than two offices may be held by the same individual. All other individuals employed by a state bank, except directors who are not officers, are employees for the purpose of this chapter. The president of a state bank is a member of the board of directors.
[C97, § 1845; C24, 27, 31, 35, 39, § 9162; C46, 50, 54, 58, 62, 66, § 526.7(4); C71, 73, 75, 77, 79, 81, § 524.701]
91 Acts, ch 7, §1
Referred to in § 524.706
Iowa General Assembly
Search: Iowa Code 1995
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