A state bank shall have in addition to other powers granted by this chapter, and subject to the limitations and restrictions contained in this chapter:
1. The power to become a member of a clearing house association.
2. The power to become a member of the federal reserve system, to hold shares of stock in a federal reserve bank, to take all actions incident to maintenance of such membership and to exercise all powers not inconsistent with the provisions of this chapter conferred on member banks by the federal reserve system.
3. The power to become an insured bank pursuant to the federal deposit insurance Act and to take all actions incident to maintenance of an insured status thereunder.
4. The power to act as agent of the United States or of any instrumentality or agency thereof for the sale or issue of bonds, notes or other obligations of the United States.
5. The power to buy and sell coin, currency and bullion.
6. All other powers incidental to the conduct of the business of banking.
[C97, § 1841; SS15, § 1889-o; C24, 27, 31, § 9156, 9269, 9271; C35, § 9156, 9269, 9271, 9283-g2, -g3, -g4, -g5; C39, § 9156, 9269, 9271, 9283.45, 9283.46, 9283.47, 9283.48; C46, 50, 54, 58, 62, 66, § 526.2, 528.67, 528.70, 530.2, 530.3, 530.4, 530.5; C71, 73, 75, 77, 79, 81, § 524.802]
Referred to in § 534.214
Iowa General Assembly
Search: Iowa Code 1995
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