536A.8 Capital stock requirement. The paid-in capital stock of any corporation engaged in the business of operating an industrial loan company shall not be less than twenty-five thousand dollars when thecorporation is transacting business in any city having less than twenty-five thousandinhabitants according to the last preceding decennial census. The paid-in capital stock ofany corporation engaged in the business of operating an industrial loan company in anycity having a population of more than twenty-five thousand inhabitants according to the lastpreceding decennial census shall not be less than fifty thousand dollars. The paid-in capitalstock of any corporation engaged in the business of operating an industrial loan companyoutside the limits of any incorporated city shall not be less than fifty thousand dollars. Everycorporation engaged in the industrial loan business in the state of Iowa shall have a surplusof not less than ten percent of its paid-in capital stock. [C66, 71, 73, 75, 77, 79, 81, §536A.8]Referred to in §536A.10, 536A.30 Sat Dec 23 01:39:14 2023 Iowa Code 2024, Section 536A.8 (15, 0)
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