Iowa Statutes
§ 496C.12 — Convertible securities — stock rights and options
Iowa § 496C.12
This text of Iowa § 496C.12 (Convertible securities — stock rights and options) 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 § 496C.12 (2026).
Text
No professional corporation shall create or issue any securities convertible into shares
of the professional corporation. The provisions of this chapter with respect to the issuance
and transfer of shares and disposal of treasury shares apply to the creation, issuance,
and transfer of any rights or options entitling the holder to purchase from a professional
corporation any shares of the corporation, including treasury shares. Rights or options
shall not be transferable, whether voluntarily, involuntarily, by operation of law, or in any
other manner. Upon the death of the holder, or whenever the holder ceases to be licensed to
5 PROFESSIONAL CORPORATIONS, §496C.14
practice in this state a profession which the corporation is authorized to practice, the rights
or options shall expire.
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Legislative History
[C71, 73, 75, 77, 79, 81, §496C.12]
Nearby Sections
15
§ 496C.1
Short title§ 496C.10
Issuance of shares§ 496C.11
Transfer of shares§ 496C.13
Voting trust — proxy§ 496C.15
Certificates representing shares§ 496C.16
Management§ 496C.17
Bylaws§ 496C.18
Merger or consolidation§ 496C.19
Dissolution or liquidation§ 496C.2
Definitions§ 496C.20
Foreign professional corporation§ 496C.21
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Bluebook (online)
Iowa § 496C.12, Counsel Stack Legal Research, https://law.counselstack.com/statute/ia/496C.12.