Iowa Code 524.1806 – Banks owned or controlled — officers and directors
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 524.1806
- Bank: means a corporation organized under this chapter, a national bank, a federal savings association, or an out-of-state bank. See Iowa Code 524.103
- Director: means a member of the board of directors of a state bank. See Iowa Code 524.103
- Officer: means chief executive officer, executive officer, or any other administrative official of a state bank elected by the state bank's board of directors to carry out any of the state bank's operating rules and policies. See Iowa Code 524.103
An individual who is a director or an officer of a bank holding company, as specified by section 524.1801, is deemed to be a director or an officer, or both, as the case may be, of each bank so owned or controlled by that bank holding company, for the purposes of sections 524.612, 524.613 and 524.706, and for the purposes of 12 C.F.R. pt. 215.