524.1302 Involuntary dissolution prior to commencement of business. Prior to the issuance of an authorization to do business, the superintendent may cause the dissolution of a state bank if there exists any reason why it should not have been incorporatedor organized under this chapter or if an authorization to do business has not been issuedwithin one year after the date of its incorporation or organization, or such longer time asthe superintendent may allow for satisfaction of conditions precedent to its issuance. Aftergiving the state bank adequate notice and an opportunity for hearing, the superintendentshall certify the applicable facts by the filing of a statement with the secretary of state, whoshall thereafter issue a certificate of dissolution. Upon the issuance of such certificate ofdissolution by the secretary of state, the corporate or organizational existence of the statebank shall cease. [C31, 35, §9142-c1; C39, §9142.1; C46, 50, 54, 58, 62, 66, §524.14; C71, 73, 75, 77, 79, 81, §524.1302] 2004 Acts, ch 1141, §68 Sat Dec 23 01:23:06 2023 Iowa Code 2024, Section 524.1302 (22, 0)
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