IA SSB1070

Reduces the Iowa residency requirement for state bank board directors from a majority of the board to at least three directors who must be Iowa residents and U.S. citizens

Maintains the requirement that state bank boards consist of five or more directors who are at least 18 years old

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

Requires at least one regular board meeting per quarter while maintaining the existing minimum of nine regular meetings per calendar year

Allows directors to participate in meetings remotely through any communication means that permits simultaneous hearing, unless articles of incorporation or bylaws provide otherwise