Iowa § 490.1401 Dissolution by incorporators or initial directors

Iowa Statutes

§ 490.1401 — Dissolution by incorporators or initial directors

Iowa § 490.1401

Title XIIBUSINESS ENTITIES

Ch. 490BUSINESS CORPORATIONS

This text of Iowa § 490.1401 (Dissolution by incorporators or initial directors) 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 § 490.1401 (2026).

Text

Amajorityoftheincorporatorsorinitialdirectorsofacorporationthathasnotissuedshares or has not commenced business may dissolve the corporation by delivering to the secretary of state for filing articles of dissolution that set forth all of the following:

1.The name of the corporation.

2.The date of its incorporation.

3.Either of the following:

a.That none of the corporation’s shares has been issued.

b.That the corporation has not commenced business.

4.That no debt of the corporation remains unpaid.

5.That the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued.

6.That a majority of the incorporators or initial directors authorized the dissolution.

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Amajorityoftheincorporatorsorinitialdirectorsofacorporationthathasnotissuedshares
or has not commenced business may dissolve the corporation by delivering to the secretary
of state for filing articles of dissolution that set forth all of the following:
1. The name of the corporation.
2. The date of its incorporation.
3. Either of the following:
a. That none of the corporation’s shares has been issued.
b. That the corporation has not commenced business.
4. That no debt of the corporation remains unpaid.
5. That the net assets of the corporation remaining after winding up have been distributed
to the shareholders, if shares were issued.
6. That a majority of the incorporators or initial directors authorized the dissolution.