524.524 Consideration for shares.
Except in the case of a distribution of shares authorized by section 524.543 or shares issued upon exchanges or conversion, common or preferred shares of a state bank may be issued only for cash in an amount not less than that determined by the superintendent.
[C97, §1853; C24, 27, 31, 35, 39, §9192; C46, 50, 54, 58, 62, 66, §526.36; C71, 73, 75, 77, 79, 81, §524.503]
95 Acts, ch 148, §41
CS 95, §524.524