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524.1417 Rights of dissenting shareholder of converting state or national bank.

1. A shareholder of a state bank which converts into a national bank who objects to the plan of conversion is entitled to the rights and remedies of a dissenting shareholder as provided in chapter 490, division XIII.

2. If a shareholder of a national bank, which converts into a state bank, objects to the plan of conversion and complies with the requirements of applicable laws of the United States, the resulting state bank is liable for the value of the shareholder's shares as determined in accordance with such laws of the United States.

Section History: Early form

[C54, 58, 62, 66, § 528B.9; C71, 73, 75, 77, 79, 81, § 524.1417]

Section History: Recent form

95 Acts, ch 148, §122, 123

Internal References

Referred to in § 524.1416

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