Iowa § 524.542 Dividends

Iowa Statutes

§ 524.542 — Dividends

Iowa § 524.542

Title XIIICOMMERCE

Ch. 524BANKS

This text of Iowa § 524.542 (Dividends) 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 § 524.542 (2026).

Text

1.The board of directors of a state bank may, from time to time, declare, and the state bank may pay, dividends on its outstanding shares subject to the restrictions of this chapter and to the restrictions, if any, in its articles of incorporation. Dividends may be declared and paid only out of undivided profits and may be paid in cash or property.

2.A dividend shall not be declared or paid if restricted by the superintendent.

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1. The board of directors of a state bank may, from time to time, declare, and the state
bank may pay, dividends on its outstanding shares subject to the restrictions of this chapter
and to the restrictions, if any, in its articles of incorporation. Dividends may be declared and
paid only out of undivided profits and may be paid in cash or property.
2. A dividend shall not be declared or paid if restricted by the superintendent.

Legislative History

[C97, §1852, 1888; S13, §1850-a, 1852, 1889-l; C24, 27, 31, 35, §9188, 9191, 9262, 9262-c1, 9263, 9283, 9299; C39, §9188, 9191, 9262, 9262.1, 9263, 9283, 9299; C46, 50, 54, 58, 62, 66, §526.33, 526.35, 528.56, 528.57, 528.58, 528.85, 532.16; C71, 73, 75, 77, 79, 81, §524.516]