524.1314 Survival of rights and remedies after dissolution or expiration — preservation of records. 1. The dissolution of a state bank, or the expiration of its period of duration, shall not take away or impair any remedy available to or against such state bank, its directors, officers, orshareholders, for any right or claim existing, or any liability incurred prior to such dissolutionor expiration, if action or other proceeding thereon is commenced within two years afterthe date of such dissolution or expiration. Any such action or proceeding by or against thestate bank may be prosecuted or defended by the state bank in its corporate name. Theshareholders, directors and officers shall have power to take such corporate or other actionas shall be appropriate to protect such remedy, right or claim. 2. Subsequent to the dissolution of a state bank, other than through the adoption of a plan involving a provision for acquisition of its assets and assumption of its liabilities byanother state bank, national bank, or other financial institution insured by the federal depositinsurance corporation, the superintendent may assume custody of the records of the statebank and, if so, shall state bank, national bank, or other financial institution insured by the federal depositinsurance corporation, the superintendent may assume custody of the records of the statebank and, if so, shall retain them in accordance with the provisions of section 524.221. Thesuperintendent may make copies of such records in accordance with the provisions of section524.221, subsection 1. [C71, 73, 75, 77, 79, 81, §524.1314]95 Acts, ch 148, §107 Sat Dec 23 01:23:25 2023 Iowa Code 2024, Section 524.1314 (22, 0)
Iowa Legal Code