Changes board of directors requirements and meeting frequency for state banks in Iowa.

The bill modifies the composition and meeting requirements for the board of directors of state banks in Iowa. It specifies that the board must consist of five or more directors who are 18 years of age or older, a majority of whom are citizens of the United States, and at least three of whom are residents of Iowa. The bill also mandates that the board hold at least nine regular meetings each calendar year, with at least one meeting occurring in each quarter.

Changes board of directors requirements and meeting frequency for state banks in Iowa.

The bill modifies the composition and meeting requirements for the board of directors of state banks in Iowa. It specifies that the board must consist of five or more directors who are 18 years of age or older, a majority of whom are citizens of the United States, and at least three of whom are residents of Iowa. The bill also mandates that the board hold at least nine regular meetings each calendar year, with at least one meeting occurring in each quarter.