524.530 State bank’s acquisition of its own shares. 1. With the prior approval of the superintendent, a state bank may acquire its own shares. Shares acquired pursuant to this section constitute authorized but unissued shares except asprovided in subsection 2. 2. If the articles of incorporation prohibit the reissue of acquired shares, the number of authorized shares is reduced by the number of shares acquired, effective upon amendmentof the articles of incorporation. 95 Acts, ch 148, §47 Sat Dec 23 01:14:19 2023 Iowa Code 2024, Section 524.530 (22, 0)
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