SF 413: Relating to requirements for, and regular meetings of, the board of directors of a state bank, and electronic activities of a state bank

What it does

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.

House subcommittee · named January 12, 2026

• Rep. Tom Determann (R) · tom.determann@legis.iowa.gov
• Rep. David L. Blom (R) · david.blom@legis.iowa.gov
• Rep. Dr. Megan L. Srinivas (D) · megan.srinivas@legis.iowa.gov

Lobbying · 4 for, 0 against

For: Community Bankers of Iowa; Dr. Tanja Garrison; Iowa Bankers Association; Iowa Division of Banking

In plain words

1. January 29, 2025Filed in the Senate and sent to the Commerce committee · as SSB 1070
2. January 29, 2025Senate subcommittee named: Warme, Knox and Rowley · as SSB 1070
3. February 19, 2025Subcommittee recommended passing it · as SSB 1070
4. February 20, 2025Approved by the Senate committee, and given a new number: SF 413 · as SSB 1070
5. February 24, 2025Filed in the Senate
6. February 24, 2025Approved by the Senate committee
7. March 10, 2025Passed the Senate, 47–0
8. January 12, 2026House subcommittee named: Determann, Blom and Srinivas
9. January 14, 2026Subcommittee recommended passing it with changes
10. January 21, 2026Approved by the House committee
11. January 21, 2026Committee vote: 22–0
12. March 2, 2026Passed the House, 90–0
13. March 10, 2026Passed the Senate, 46–0
14. April 30, 2026Sent to the Governor
15. April 30, 2026Signed into law