524.818 Indebtedness of state bank. A state bank may borrow money or otherwise contract indebtedness for necessary expenses in managing and transacting its business, to maintain proper cash reserves, and for othercorporate purposes, provided, however, the superintendent may prohibit or place restrictionsupon money borrowed or other indebtedness which would, in the superintendent’s judgment,constitute an unsafe or unsound practice in view of the condition and circumstances of thestate bank. Nothing contained in this section shall limit the right of a state bank to issuecapital notes or debentures pursuant and subject to the provisions of section 524.404. [S13, §1889-j; C24, 27, 31, 35, 39, §9297; C46, 50, 54, 58, 62, 66, §532.14; C71, 73, 75, 77, 79, 81, §524.818] Sat Dec 23 01:17:11 2023 Iowa Code 2024, Section 524.818 (22, 0)
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