Iowa § 524.710 Prohibitions applicable to certain financial transactions involving officers and employees

Iowa Statutes

§ 524.710 — Prohibitions applicable to certain financial transactions involving officers and employees

Iowa § 524.710

Title XIIICOMMERCE

Ch. 524BANKS

This text of Iowa § 524.710 (Prohibitions applicable to certain financial transactions involving officers and 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 § 524.710 (2026).

Text

employees. An officer or employee of a state bank shall not do any of the following:

1.Receive anything of value, other than compensation as authorized by section 524.703, for procuring, or attempting to procure, any loan or extension of credit, as defined in section 524.904, for the state bank or for procuring, or attempting to procure, an investment by the state bank.

2.Engage, directly or indirectly, in the sale of any kind of insurance, shares of stock, bonds or other securities, or real property, or procure or attempt to procure for a fee or other compensation, a loan or extension of credit for any person from a person other than the state bank of which the person is an officer or employee, or act in any fiduciary capacity, unless authorized to do so by the board of directors of the

Free access — add to your briefcase to read the full text and ask questions with AI

employees.
An officer or employee of a state bank shall not do any of the following:
1. Receive anything of value, other than compensation as authorized by section 524.703,
for procuring, or attempting to procure, any loan or extension of credit, as defined in section
524.904, for the state bank or for procuring, or attempting to procure, an investment by the
state bank.
2. Engage, directly or indirectly, in the sale of any kind of insurance, shares of stock,
bonds or other securities, or real property, or procure or attempt to procure for a fee or other
compensation, a loan or extension of credit for any person from a person other than the state
bank of which the person is an officer or employee, or act in any fiduciary capacity, unless
authorized to do so by the board of directors of the state bank which shall also determine
the manner in which the profits, fees, or other compensation derived therefrom shall be
distributed.

Legislative History

[C31, 35, §9221-c3, 9222-c2, 9283-c1; C39, §9221.3, 9222.2, 9283.01; C46, 50, 54, 58, 62, 66, §528.10, 528.12, 528.86; C71, 73, 75, 77, 79, 81, §524.710]