Iowa § 491.25 Renewal — conditions

Iowa Statutes

§ 491.25 — Renewal — conditions

Iowa § 491.25

Title XIIBUSINESS ENTITIES

Ch. 491CORPORATIONS FOR PECUNIARY PROFIT

This text of Iowa § 491.25 (Renewal — conditions) 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 § 491.25 (2026).

Text

1.Corporations existing for a period of years may be renewed from time to time for the same or shorter periods, or may be renewed to exist perpetually, upon compliance with the provisions of this section and other applicable statutes.

2.The right of renewal is vested in the stockholders and shall be exercised by a resolution thereofadoptedatanyregularmeetingoratanyspecialmeetingcalledforthatpurpose. Such resolutionmustbeadoptedbyamajorityofallthevotescastatsuchmeeting, orbysuchother vote as is authorized or required in the company’s existing articles of incorporation.

3.If the renewal instrument in proper form and the necessary fees are tendered to the secretary of state for filing three months or less either prior or subsequent to the corporation’s expiration date, the renewal shall ta

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1. Corporations existing for a period of years may be renewed from time to time for the
same or shorter periods, or may be renewed to exist perpetually, upon compliance with the
provisions of this section and other applicable statutes.
2. The right of renewal is vested in the stockholders and shall be exercised by a resolution
thereofadoptedatanyregularmeetingoratanyspecialmeetingcalledforthatpurpose. Such
resolutionmustbeadoptedbyamajorityofallthevotescastatsuchmeeting, orbysuchother
vote as is authorized or required in the company’s existing articles of incorporation.
3. If the renewal instrument in proper form and the necessary fees are tendered to
the secretary of state for filing three months or less either prior or subsequent to the
corporation’s expiration date, the renewal shall take effect immediately upon the expiration
of the corporation’s previous period of existence, and in such case, the corporate existence
shall be considered as having been extended without interruption. If the renewal is filed
more than three months before or after the expiration date, the renewal shall take effect
upon the date such renewal with necessary fees is accepted and filed by the secretary of
state; and in cases where filed more than three months after the expiration date, shall not be
in legal effect a renewal unless the procedure provided for and the additional fees provided
for in section 491.28 are fully complied with and paid.
4. In all cases of renewal, those stockholders voting for such renewal must purchase at its
real value the stock voted against the renewal, and shall have three years from the date such
action for renewal was taken in which to purchase and pay for the stock voting against the
renewal, which purchase price shall bear interest at the rate of five percent per annum from
the date of the renewal action until paid.

Legislative History

[C51, §681; R60, §1158; C73, §1069; C97, §1618; S13, §1618; C24, 27, 31, 35, 39, §8365, 8366; C46, 50, §491.25, 491.26; C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §491.25]