Iowa § 496B.2 Definitions

Iowa Statutes

§ 496B.2 — Definitions

Iowa § 496B.2

Title XIIBUSINESS ENTITIES

Ch. 496BECONOMIC DEVELOPMENT CORPORATIONS

This text of Iowa § 496B.2 (Definitions) 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 § 496B.2 (2026).

Text

As used in this chapter, unless the context otherwise requires, the term:

1.“Authority” means the economic development authority created in section 15.105, or any entity which succeeds to the functions of the authority.

2.“Board of directors” means members of the board of directors of a development corporation constituted under section 496B.13 in office from time to time.

3.“Development corporation” means any corporation organized pursuant to this chapter and for the purpose of developing businesses, industries, and enterprises in the state of Iowa by the loaning of money thereto and investing money therein, and otherwise organizing for the purposes in section 496B.5.

4.“Financial institution” means any bank, trust company, savings association, insurance company or related corporation,

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As used in this chapter, unless the context otherwise requires, the term:
1. “Authority” means the economic development authority created in section 15.105, or
any entity which succeeds to the functions of the authority.
2. “Board of directors” means members of the board of directors of a development
corporation constituted under section 496B.13 in office from time to time.
3. “Development corporation” means any corporation organized pursuant to this chapter
and for the purpose of developing businesses, industries, and enterprises in the state of Iowa
by the loaning of money thereto and investing money therein, and otherwise organizing for
the purposes in section 496B.5.
4. “Financial institution” means any bank, trust company, savings association, insurance
company or related corporation, partnership, foundation or other institution licensed to do
business in the state of Iowa and engaged primarily in lending or investing funds.
5. “Loanlimit”means,foranymember,themaximumamountpermittedtobeoutstanding
at any one time on loans made by any such member to a development corporation, as
determined herein.
6. “Member” means any financial institution which shall undertake to lend money to a
developmentcorporationuponitscallandinaccordancewiththeprovisionofsection496B.9.