1. A shareholder of a state bank which converts into a national bank or federal savings association 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 or federal savings association, 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.
[C54, 58, 62, 66, § 528B.9; C71, 73, 75, 77, 79, 81, § 524.1417]
95 Acts, ch 148, §122, 123; 98 Acts, ch 1036, §14
Referred to in § 524.1416
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