SSB 1070: Relating to requirements for, and regular meetings of, the board of directors 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, at least three of whom are residents of the state of Iowa and citizens of the United States. 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.

Senate subcommittee · named January 29, 2025

• Sen. Kara Warme (R) · kara.warme@legis.iowa.gov
• Sen. Izaah Knox (D) · izaah.knox@legis.iowa.gov
• Sen. David D. Rowley (R) · david.rowley@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
2. January 29, 2025Senate subcommittee named: Warme, Knox and Rowley
3. February 19, 2025Subcommittee recommended passing it
4. February 20, 2025Approved by the Senate committee, and given a new number: SF 413