524.524 - CONSIDERATION FOR SHARES.
524.524 CONSIDERATION FOR SHARES. Except in the case of a distribution of shares authorized by section 524.543 or shares issued upon exchanges or conversion, common or preferred shares of a state bank may be issued only for cash in an amount not less than that determined by the superintendent.
Section History: Early Form [C97, § 1853; C24, 27, 31, 35, 39, § 9192; C46, 50, 54, 58, 62, 66, § 526.36; C71, 73, 75, 77, 79, 81, § 524.503]
Section History: Recent Form 95 Acts, ch 148, §41 CS 95, §524.524