The board of directors may fix the tenure and provide for the reasonable compensation of officers. Upon approval by the board of directors, officers may be reimbursed for reasonable expenses incurred by them in behalf of the state bank.
Subject to the approval of the superintendent, and approval by the shareholders at an annual or special meeting called for the purpose, the board of directors of a state bank may adopt a pension or profit-sharing plan, or both, or other plan of deferred compensation, for both officers and employees, to which the state bank may contribute.
[C97, § 1844, 1869; S13, § 1869; C24, 27, 31, 35, 39, § 9162, 9219; C46, 50, 54, 58, 62, 66, § 526.7(4), 528.5; C71, 73, 75, 77, 79, 81, § 524.703]
Iowa General Assembly
Search: Iowa Code 1995
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