{"data":{"id":"us-ia/iowa-code-524.601","jurisdiction":"us-ia","citation":"Iowa Code § 524.601","heading":"Board of directors.","body":"1. The business and affairs of a state bank shall be managed by a board of five or more directors eighteen years of age or older, a majority of whom shall be residents of the state of Iowa and citizens of the United States.\n2. The number of directors may be increased, or decreased to a number not less than five, by the shareholders at the annual meeting, or at a special meeting called for that purpose, but no decrease shall have the effect of shortening the term of an incumbent director.","path":["Title XIII - COMMERCE (Ch. 505 - 554I)","Chapter 524 - BANKS","Subchapter VI - DIRECTORS"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/524.601.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:14Z","sha256":"0c8acadfb1fe48bcb67264329a70edf592bd60d9e589486c6b4bbfffeee146df","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-524.600","next":"us-ia/iowa-code-524.602"},"notice":"GroundRules: Original legal text. Not legal advice."}