524.710 Prohibitions applicable to certain financial transactions involving officers and employees. An officer or employee of a state bank shall not do any of the following:1. Receive anything of value, other than compensation as authorized by section 524.703, for procuring, or attempting to procure, any loan or extension of credit, as defined in section524.904, for the state bank or for procuring, or attempting to procure, an investment by thestate bank. 2. Engage, directly or indirectly, in the sale of any kind of insurance, shares of stock, bonds or other securities, or real property, or procure or attempt to procure for a fee or othercompensation, a loan or extension of credit for any person from a person other than the statebank of which the person is an officer or employee, or act in any fiduciary capacity, unlessauthorized to do so by the board of directors of the state bank which shall also determinethe manner in which the profits, fees, or other compensation derived therefrom shall bedistributed. [C31, 35, §9221-c3, 9222-c2, 9283-c1; C39, §9221.3, 9222.2, 9283.01; C46, 50, 54, 58, 62, 66, §528.10, 528.12, 528.86; C71, 73, 75, 77, 79, 81, §524.710] 95 Acts, ch 148, §77; om shall bedistributed. [C31, 35, §9221-c3, 9222-c2, 9283-c1; C39, §9221.3, 9222.2, 9283.01; C46, 50, 54, 58, 62, 66, §528.10, 528.12, 528.86; C71, 73, 75, 77, 79, 81, §524.710] 95 Acts, ch 148, §77; 2017 Acts, ch 138, §7Referred to in §524.912, 524.1601 Sat Dec 23 01:16:06 2023 Iowa Code 2024, Section 524.710 (28, 0)
Iowa Legal Code