A bill for an act relating to requirements for, and regular meetings of, the board of directors of a state bank.

This bill (HF 311) modifies governance rules for state banks in Iowa. It requires state bank boards to have at least three directors who reside in Iowa (replacing the current requirement for a majority of Iowa residents), while maintaining the existing requirement that all directors be U.S. citizens. The bill also adds a new provision mandating that boards hold at least one regular meeting during each calendar quarter, in addition to the existing requirement of nine meetings per year. These changes directly affect all state banks operating under Iowa law by altering their board composition and meeting schedules.