Iowa § 497.13 Issue of shares as payment

Iowa Statutes

§ 497.13 — Issue of shares as payment

Iowa § 497.13

Title XIIBUSINESS ENTITIES

Ch. 497COOPERATIVE ASSOCIATIONS

This text of Iowa § 497.13 (Issue of shares as payment) 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 § 497.13 (2026).

Text

Whenever an association created under this chapter shall purchase the business of another
association, person, or persons, it may pay for the same in whole or in part by issuing to
the selling association or person shares of its capital stock to an amount, which at fair
market value as determined by the executive council, would equal the fair market value
of the business so purchased as determined by the executive council as in cases of other
corporations.

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Whenever an association created under this chapter shall purchase the business of another
association, person, or persons, it may pay for the same in whole or in part by issuing to
the selling association or person shares of its capital stock to an amount, which at fair
market value as determined by the executive council, would equal the fair market value
of the business so purchased as determined by the executive council as in cases of other
corporations.