Iowa § 489.1003 Required notice or approval

Iowa Statutes

§ 489.1003 — Required notice or approval

Iowa § 489.1003

Title XIIBUSINESS ENTITIES

Ch. 489UNIFORM LIMITED LIABILITY COMPANY ACT

This text of Iowa § 489.1003 (Required notice or approval) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 489.1003 (2026).

Text

1.A domestic or foreign entity that is required to give notice to, or obtain the approval of, a governmental agency or officer of this state to be a party to a merger must give the notice or obtain the approval to be a party to an interest exchange, conversion, or domestication.

2.Property held for a charitable purpose under the law of this state by a domestic or foreign entity immediately before a transaction under this subchapter becomes effective may be diverted from the objects for which it was donated, granted, devised, or otherwise transferred only to the extent a public benefit corporation is able to divert from such objects under chapter 504.

3.A bequest, devise, gift, grant, or promise contained in a will or other instrument of donation, subscription, or conveyance which is mad

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1. A domestic or foreign entity that is required to give notice to, or obtain the approval of,
a governmental agency or officer of this state to be a party to a merger must give the notice
or obtain the approval to be a party to an interest exchange, conversion, or domestication.
2. Property held for a charitable purpose under the law of this state by a domestic or
foreign entity immediately before a transaction under this subchapter becomes effective
may be diverted from the objects for which it was donated, granted, devised, or otherwise
transferred only to the extent a public benefit corporation is able to divert from such objects
under chapter 504.
3. A bequest, devise, gift, grant, or promise contained in a will or other instrument of
donation, subscription, or conveyance which is made to a merging entity that is not the
surviving entity and which takes effect or remains payable after the merger inures to the
surviving entity.
4. A trust obligation that would govern property if transferred to a nonsurviving entity
applies to property that is transferred to the surviving entity under this section.