Iowa Code 524.1406 – Appraisal rights of shareholders
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Terms Used In Iowa Code 524.1406
- Appraisal: A determination of property value.
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- United States: includes all the states. See Iowa Code 4.1
524.1406 Appraisal rights of shareholders.
1. A shareholder of a state bank, which is a party to a proposed plan of merger which will result in a state bank subject to this chapter, who objects to the plan of merger is entitled to appraisal rights as provided in chapter 490, subchapter XIII.
2. If a shareholder of a national bank which is a party to a proposed plan of merger which will result in a state bank, or a shareholder of a state bank which is a party to a plan of merger which will result in a national bank, objects to the plan of merger and complies with the requirements of the applicable laws of the United States, the resulting state bank or national bank, as the case may be, 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, §524.1406]
90 Acts, ch 1205, §47; 95 Acts, ch 148, §114; 99 Acts, ch 162, §1; 99 Acts, ch 208, §59; 2000
Acts, ch 1211, §3; 2002 Acts, ch 1154, §116, 125; 2008 Acts, ch 1119, §11; 2010 Acts, ch 1138,
§57; 2011 Acts, ch 34, §121; 2014 Acts, ch 1001, §4; 2014 Acts, ch 1076, §20; 2019 Acts, ch 24,
§104; 2022 Acts, ch 1062, §122
Referred to in §524.1405
1. A shareholder of a state bank, which is a party to a proposed plan of merger which will result in a state bank subject to this chapter, who objects to the plan of merger is entitled to appraisal rights as provided in chapter 490, subchapter XIII.
2. If a shareholder of a national bank which is a party to a proposed plan of merger which will result in a state bank, or a shareholder of a state bank which is a party to a plan of merger which will result in a national bank, objects to the plan of merger and complies with the requirements of the applicable laws of the United States, the resulting state bank or national bank, as the case may be, 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, §524.1406]
90 Acts, ch 1205, §47; 95 Acts, ch 148, §114; 99 Acts, ch 162, §1; 99 Acts, ch 208, §59; 2000
Acts, ch 1211, §3; 2002 Acts, ch 1154, §116, 125; 2008 Acts, ch 1119, §11; 2010 Acts, ch 1138,
§57; 2011 Acts, ch 34, §121; 2014 Acts, ch 1001, §4; 2014 Acts, ch 1076, §20; 2019 Acts, ch 24,
§104; 2022 Acts, ch 1062, §122
Referred to in §524.1405