House Study Bill 550 - Introduced HOUSE FILE _____ BY (PROPOSED COMMITTEE ON COMMERCE BILL BY CHAIRPERSON COWNIE) A BILL FOR An Act relating to the determination of fair value for shares 1 of banks and bank holding companies in transactions 2 providing appraisal rights for dissenting shareholders. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5672YC (3) 85 rn/nh

H.F. _____ Section 1. Section 490.1301, subsection 4, paragraph b, 1 Code 2014, is amended by striking the paragraph. 2 Sec. 2. Section 490.1330, subsection 6, Code 2014, is 3 amended by striking the subsection. 4 Sec. 3. Section 524.1406, subsection 3, Code 2014, is 5 amended by striking the subsection. 6 EXPLANATION 7 The inclusion of this explanation does not constitute agreement with 8 the explanation’s substance by the members of the general assembly. 9 This bill repeals Code provisions that permit the use of 10 discounts for minority status and lack of marketability in 11 determining the fair value of shares of banks and bank holding 12 companies in transactions that provide appraisal rights for 13 dissenting shareholders. 14 -1- LSB 5672YC (3) 85 rn/nh 1/ 1