§ 524.1101

524.1101 Definitions. For the purposes of this chapter, an 'affiliate' of a state bank shall include any corporation, trust, estate, association, or other similar organization: 1. Of which a state bank, directly or indirectly, owns or controls either a majority of the voting shares or more than fifty percent of the number of shares voted for the electionof its directors, trustees, or other individuals exercising similar functions at the precedingelection, or controls in any manner the election of a majority of its directors, trustees, orother individuals exercising similar functions. 2. Of which control is held, directly or indirectly, through share ownership or in any other manner, by the shareholders of a state bank who own or control either a majority of the sharesof such state bank or more than fifty percent of the number of shares voted for the electionof directors of such state bank at the preceding election, or by trustees for the benefit of theshareholders of any such state bank. 3. Of which a majority of its directors, trustees, or other individuals exercising similar functions are directors of any one state bank. 4.

for the benefit of theshareholders of any such state bank. 3. Of which a majority of its directors, trustees, or other individuals exercising similar functions are directors of any one state bank. 4. Which owns or controls, directly or indirectly, either a majority of the voting shares of a state bank or more than fifty percent of the number of shares voted for the election ofdirectors of a state bank at the preceding election, or controls in any manner the election of amajority of the directors of a state bank, or for the benefit of whose shareholders or membersall or substantially all of the outstanding voting shares of a state bank is held by trustees. 5. Which is a bank holding company, as defined by the laws of the United States, of which a state bank is a subsidiary, and any other subsidiary, as defined by the laws of the UnitedStates, of a bank holding company. [C71, 73, 75, 77, 79, 81, §524.1101]Referred to in §12C.22, 524.103, 524.541, 537.1301 Sat Dec 23 01:20:24 2023 Iowa Code 2024, Section 524.1101 (22, 0)