§ 524.1505 — Approval of articles of amendment

Iowa § 524.1505

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 524: BANKS

Text

1. Upon receipt of the articles of amendment the superintendent shall conduct such
investigation as the superintendent may deem necessary to determine whether the articles
of amendment satisfy the requirements of section 524.1504 and whether the amendment, if
effected, will in any way prejudice the interests of the depositors of the state bank.
2. Within sixty days after receipt of the articles of amendment the superintendent shall
approve or disapprove the articles of amendment on the basis of the investigation. If the
superintendent shall approve the articles of amendment, the superintendent shall deliver
themwiththewrittenapprovaltothesecretaryofstateandnotifythestatebankoftheaction.
If the superintendent shall disapprove the articles of amendment, the superintendent shall
give written notice to the state bank of the disapproval and a statement of the reasons for the
decision. The decision of the superintendent shall be subject to judicial review in accordance
with the terms of the Iowa administrative procedure Act, chapter 17A. Notwithstanding the
terms of said Act, such a petition for judicial review must be filed within thirty days after the
superintendent notifies the state bank of the decision.

Legislative History

[C71, 73, 75, 77, 79, 81, §524.1505]