524.532 Meetings of shareholders.

203 words·~1 min read·/ia/chapter-524-banks/524-532

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Meetings of shareholders may be held at a place as provided in the articles of incorporation or the bylaws, or as fixed in accordance with their provisions. In the absence of any such provision, all meetings shall be held at the principal place of business of the state bank. An annual meeting of the shareholders shall be held during the specific month as shall be provided in the articles of incorporation, at the location, date, and time as stated in or fixed in accordance with the bylaws.

Failure to hold the annual meeting during the month shall not work a forfeiture or dissolution of the state bank. Special meetings of the shareholders may be called by the president, the board of directors, the holders of not less than one-tenth of all the shares entitled to vote at the meeting, or other officers or persons as provided in the articles of incorporation or the bylaws. If a state bank holds a shareholder meeting at a location outside this state, the articles of incorporation or bylaws must permit any or all shareholders to participate by any means of communication as specified in section 524.533, subsection 4.

[C71, 73, 75, 77, 79, 81, §524.508]

CS95, §524.532