IA HF311

Removes the requirement that a majority of state bank board directors be Iowa residents, instead requiring only that at least three directors be Iowa residents

Maintains the requirement that a majority of directors be United States citizens, while eliminating the previous link between citizenship and Iowa residency requirements

Retains existing requirements that boards consist of five or more directors who are at least 18 years old

Eliminates the restriction that no more than one regular board meeting can be held per calendar month

Requires at least nine regular board meetings per year with a minimum of one meeting per quarter, while allowing directors to participate remotely unless prohibited by articles of incorporation or bylaws