Bills › 91st General Assembly
Relating to requirements for, and regular meetings of, the board of directors of a state bank
Sponsored by the House Commerce Committee
Topics:Business & economy
Where it is now
- Done: IntroducedJanuary 28, 2025
- Done: SubcommitteeJanuary 28, 2025
- Done: House committeeFebruary 6, 2025
- Done: Passes the HouseMarch 2, 202690–0
- Skipped: Senate committeeSkipped
- Done: Passes the SenateMarch 10, 202547–0
- Done: To the GovernorApril 30, 2026
- Done: Signed into lawApril 30, 2026
SF 413 became law → The same legislation passed as SF 413, so this version was set aside. Go to SF 413 What’s a funnel?
What’s in it
AI summary State bank boards would need to change how many members live in Iowa and how often they meet. Instead of a simple majority, at least three directors must be Iowa residents. The new rules also require these boards to hold at least one meeting every three months.1
Read the official explanation
This bill relates to the requirements to serve on the board of directors (board) of a state bank, and the regular meetings of a board. Under current law, a board consists of five or more directors years of age or older, a majority of whom are residents of the state of Iowa and citizens of the United States. Under the bill, a board consists of five or more directors years of age or older, a majority of whom are citizens of the United States, and at least three of whom are residents of the state of Iowa. Under current law, a board shall hold at least nine regular meetings each calendar year, and no more than one regular meeting shall be held in any one calendar month. Under the bill, a board shall hold at least nine regular meetings each calendar year, and at least one regular meeting shall occur in each quarter of a calendar year.
Changed since by amendment H-8001; see Amendments.
House subcommittee
Named January 28, 2025 (as HSB 95). On February 3, 2025 it recommended amendment and passage.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Iowa Code it changes
Lobbying
4 for · 0 against · 4 undecided · Who →
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91st General Assembly