Iowa HF311 amends the requirements for the board of directors of a state bank, including residency and citizenship criteria, and mandates regular.

Iowa HF311 modifies the composition and meeting requirements for the board of directors of a state bank. The board must consist of five or more directors who are at least 18 years old, with a majority being residents of Iowa and citizens of the United States, and at least three directors must be Iowa residents. The bill also stipulates that the board must hold at least nine regular meetings each calendar year, with at least one meeting per quarter, and no more than one meeting per month. Directors can participate in meetings via any means of communication that allows simultaneous hearing.

Iowa HF311 amends the requirements for the board of directors of a state bank, including residency and citizenship criteria, and mandates regular.

Iowa HF311 modifies the composition and meeting requirements for the board of directors of a state bank. The board must consist of five or more directors who are at least 18 years old, with a majority being residents of Iowa and citizens of the United States, and at least three directors must be Iowa residents. The bill also stipulates that the board must hold at least nine regular meetings each calendar year, with at least one meeting per quarter, and no more than one meeting per month. Directors can participate in meetings via any means of communication that allows simultaneous hearing.