12C.13 Deposit not membership. Notwithstanding chapter 524, the deposit of public funds in a credit union as defined in section 533.102 or a mutual corporation as defined in section 524.103 does not constitute being a shareholder, stockholder, or owner of a corporation in violation of Article VIII of the Constitution of the State of Iowa or any other provision of law. 84 Acts, ch 1230, §17 C85, §453.13 C93, §12C.13 2007 Acts, ch 174, §77; 2012 Acts, ch 1017, §37
Iowa Legal Code