Iowa Code » Chapter 524 — BANKS
Iowa Code

Iowa Code § 524.1406 (2026)

Appraisal rights of shareholders

✓ current as of July 2026
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1. A shareholder of a state bank, which is a party to a proposed plan of merger which will result in a state bank subject to this chapter, who objects to the plan of merger is entitled to appraisal rights as provided in chapter 490, subchapter XIII.

2. If a shareholder of a national bank which is a party to a proposed plan of merger which will result in a state bank, or a shareholder of a state bank which is a party to a plan of merger which will result in a national bank, objects to the plan of merger and complies with the \n Tue Dec 09 22:03:56 2025 Iowa Code 2026, Chapter 524 (74, 6) §524.1406, BANKS 92\n\nrequirements of the applicable laws of the United States, the resulting state bank or national bank, as the case may be, is liable for the value of the shareholder’s shares as determined in accordance with such laws of the United States. [C54, 58, 62, 66, §528B.9; C71, 73, 75, 77, 79, 81, §524.1406] 90 Acts, ch 1205, §47; 95 Acts, ch 148, §114; 99 Acts, ch 162, §1; 99 Acts, ch 208, §59; 2000 Acts, ch 1211, §3; 2002 Acts, ch 1154, §116, 125; 2008 Acts, ch 1119, §11; 2010 Acts, ch 1138, §57; 2011 Acts, ch 34, §121; 2014 Acts, ch 1001, §4; 2014 Acts, ch 1076, §20; 2019 Acts, ch 24, §104; 2022 Acts, ch 1062, §122 Referred to in §524.1405\n\n 524.1407 Reserved. \n

Notes of Decisions
Cited in 4 cases, 2004–2011 · leading case: Rolfe State Bank v. Charles a. Gunderson & Gloria K. Gunderson, Margaret Gunderson Moore, Clara Gunderson Hoover & Harold M. Hoover, Helen D. Gunderson, Deane C. Gunderson & Martha G. Carlson, 794 N.W.2d 561 (Iowa 2011).
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Rolfe State Bank v. Charles a. Gunderson & Gloria K. Gunderson, Margaret Gunderson Moore, Clara Gunderson Hoover & Harold M. Hoover, Helen D. Gunderson, Deane C. Gunderson & Martha G. Carlson, 794 N.W.2d 561 (Iowa 2011). · cites it 60× “Iowa Code § 524.1406 (3)(a) (emphasis added).”
Nw. Inv. Corp. v. Wallace, 741 N.W.2d 782 (Iowa 2007). · cites it 2× “Without discounting for lack of marketability or minority status.”
Cmty. Bank of Arizona v. G.V.M. Trust, 366 F.3d 982 (9th Cir. 2004). · cites it 2× “Thus, for instance, under Iowa Code §§ 524.1406 and 524.1417, a dissenting shareholder of a state bank that is merging into either a state or a national bank is entitled to the same appraisal rights as are shareholders of other state-chartered corporations.”
Nw. Inv. Corp. Vs. Emmett Lee Wallace, William R. Harvey & Helen I. Harvey (Iowa 2007). · cites it 2× “Without discounting for lack of marketability or minority status .”
— Iowa Code § 524.1406(3) — 1 case
Rolfe State Bank v. Charles a. Gunderson & Gloria K. Gunderson, Margaret Gunderson Moore, Clara Gunderson Hoover & Harold M. Hoover, Helen D. Gunderson, Deane C. Gunderson & Martha G. Carlson, 794 N.W.2d 561 (Iowa 2011). “Iowa Code § 524.1406 (3)(a) (emphasis added).”
— Iowa Code § 524.1406(3)(a) — 1 case
Rolfe State Bank v. Charles a. Gunderson & Gloria K. Gunderson, Margaret Gunderson Moore, Clara Gunderson Hoover & Harold M. Hoover, Helen D. Gunderson, Deane C. Gunderson & Martha G. Carlson, 794 N.W.2d 561 (Iowa 2011). “Iowa Code § 524.1406 (3)(a) (emphasis added).”
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