Iowa Code § 497.20

When dividends distributed
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The profits or net earningsof such associations shall be distributed tothoseentitled thereto, atsuch times as the bylaws shall prescribe, which shall be as often as once in twelve months. [SS15, §1641-r14; C24, 27, 31, 35, 39, §8478; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §497.20]

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