1. The state banking board shall be composed of the superintendent, who shall be an ex officio nonvoting member and chairperson, and six other members, appointed by the governor, who shall be chosen from various sections of the state. Provided, however, that in no event shall more than five members of such board be engaged in the business of banking in any executive capacity. In case of a vacancy in the state banking board, other than one resulting from a vacancy in the office of the superintendent, the governor shall appoint a new member to fill such vacancy for the unexpired term.
2. The regular term of office of each member, other than the superintendent, shall be contemporaneous with the regular term of office of the superintendent as defined in subsection 2 of section 524.201, and each such member shall hold office for such term and until the member's successor shall have been appointed.
3. A member of the state banking board, other than the superintendent, shall not receive a salary but is entitled to reimbursement for actual expenses incurred by the member in connection with the member's duties. Each member of the board may also be eligible to receive compensation as provided in section 7E.6.
4. The state banking board shall act with the superintendent in an advisory capacity concerning all matters pertaining to the conduct of the administration of the provisions of this chapter and shall perform such other duties as are specifically provided for by the laws of this state.
5. The state banking board shall meet each month on such date and at such place as the state banking board may designate, and shall meet at such other times as the board may deem necessary, or when called by the chairperson of the board, or any two members thereof.
[C27, 31, 35, § 9154-a1, -a2, -a3, -a4, -a7, -a8; C39, § 9154.04--9154.07, 9154.10, 9154.11; C46, 50, 54, 58, 62, 66, § 525.1--525.4, 525.7, 525.8; C71, 73, 75, 77, 79, 81, § 524.205]
86 Acts, ch 1245, § 747
Previous Section 524.204
Next Section 524.206
© 2003 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Tue Jan 28 13:52:42 CST 2003
URL: /DOCS/IACODE/2003/524/205.html
jhf