Iowa § 524.1408 Merger of corporation or limited liability company substantially owned by a state bank

Iowa Statutes

§ 524.1408 — Merger of corporation or limited liability company substantially owned by a state bank

Iowa § 524.1408

Title XIIICOMMERCE

Ch. 524BANKS

This text of Iowa § 524.1408 (Merger of corporation or limited liability company substantially owned by a state bank) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 524.1408 (2026).

Text

state bank.
A state bank owning at least ninety percent of the outstanding shares, of each class, of
another corporation or limited liability company which it is authorized to own under this
chapter may merge the other corporation or limited liability company into itself without
approval by a vote of the shareholders of either the state bank or the subsidiary corporation
or limited liability company. The board of directors of the state bank shall approve a plan of
merger, mail the plan of merger to shareholders of record of the subsidiary corporation or
holders of membership interests in the subsidiary limited liability company, and prepare and
execute articles of merger in the manner provided for in section 490.1105. The articles of
merger, together with the applicable filing fees, shall 

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state bank.
A state bank owning at least ninety percent of the outstanding shares, of each class, of
another corporation or limited liability company which it is authorized to own under this
chapter may merge the other corporation or limited liability company into itself without
approval by a vote of the shareholders of either the state bank or the subsidiary corporation
or limited liability company. The board of directors of the state bank shall approve a plan of
merger, mail the plan of merger to shareholders of record of the subsidiary corporation or
holders of membership interests in the subsidiary limited liability company, and prepare and
execute articles of merger in the manner provided for in section 490.1105. The articles of
merger, together with the applicable filing fees, shall be delivered to the superintendent who
shall, if the superintendent approves of the proposed merger and if the superintendent finds
the articles of merger satisfy the requirements of this section, deliver them to the secretary
of state for filing in the secretary of state’s office. The secretary of state upon filing the
articles of merger shall issue a certificate of merger and send the certificate to the state bank
and a copy of it to the superintendent.