Iowa § 490.809 Removal of directors by judicial proceeding

Iowa Statutes

§ 490.809 — Removal of directors by judicial proceeding

Iowa § 490.809

Title XIIBUSINESS ENTITIES

Ch. 490BUSINESS CORPORATIONS

This text of Iowa § 490.809 (Removal of directors by judicial proceeding) 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 § 490.809 (2026).

Text

1.The district court of the county where a corporation’s principal office or, if none in this state, its registered office is located may remove a director from office or may order other relief, including barring the director from reelection for a period prescribed by the court, in a proceeding commenced by or in the right of the corporation if the court finds that all of the following apply:

a.The director engaged in fraudulent conduct with respect to the corporation or its shareholders, grossly abused the position of director, or intentionally inflicted harm on the corporation.

b.Considering the director’s course of conduct and the inadequacy of other available remedies, removal or such other relief would be in the best interest of the corporation.

2.A shareholder proceeding on beha

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1. The district court of the county where a corporation’s principal office or, if none in this
state, its registered office is located may remove a director from office or may order other
relief, including barring the director from reelection for a period prescribed by the court, in

a proceeding commenced by or in the right of the corporation if the court finds that all of the
following apply:
a. The director engaged in fraudulent conduct with respect to the corporation or its
shareholders, grossly abused the position of director, or intentionally inflicted harm on the
corporation.
b. Considering the director’s course of conduct and the inadequacy of other available
remedies, removal or such other relief would be in the best interest of the corporation.
2. A shareholder proceeding on behalf of the corporation under subsection 1 shall comply
with all of the requirements of subchapter VII, part 4, except section 490.741, subsection 1.