Iowa Code 524.603 – Vacancies
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Iowa Code 524.603
- Articles of incorporation: means the original, amended, or restated articles of incorporation and all amendments thereto and includes articles of merger. See Iowa Code 524.103
- Board: means the engineering and land surveying examining board provided by this chapter. See Iowa Code 542B.2
- Board of directors: means the board of directors of a state bank as provided in section 524. See Iowa Code 524.103
- Director: means a member of the board of directors of a state bank. See Iowa Code 524.103
- Quorum: The number of legislators that must be present to do business.
Unless otherwise provided in the articles of incorporation, the bylaws, or by action of the shareholders, any vacancy occurring in the board of directors may be filled by the affirmative vote of the majority of the directors then in office, even if less than a quorum of the board of directors. A director so elected shall be elected for the unexpired term of the director’s predecessor in office.