Iowa § 524.707 Removal of officers or employees

Iowa Statutes

§ 524.707 — Removal of officers or employees

Iowa § 524.707

Title XIIICOMMERCE

Ch. 524BANKS

This text of Iowa § 524.707 (Removal of officers or employees) 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 § 524.707 (2026).

Text

1.An officer or employee may be removed by the board of directors whenever in its judgment the best interests of the state bank shall be served by such removal, but the removal shall be without prejudice to the contract rights, if any, of the officer or employee so removed. Election of an officer shall not of itself create contract rights.

2.Section 524.606, subsection 2, which provides for the removal of directors by the superintendent, shall have equal application to officers and employees of a state bank, bank holding company, bank affiliate, or trust company.

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1. An officer or employee may be removed by the board of directors whenever in its
judgment the best interests of the state bank shall be served by such removal, but the
removal shall be without prejudice to the contract rights, if any, of the officer or employee
so removed. Election of an officer shall not of itself create contract rights.
2. Section 524.606, subsection 2, which provides for the removal of directors by the
superintendent, shall have equal application to officers and employees of a state bank, bank
holding company, bank affiliate, or trust company.