Iowa § 497.33 Personal liability

Iowa Statutes

§ 497.33 — Personal liability

Iowa § 497.33

Title XIIBUSINESS ENTITIES

Ch. 497COOPERATIVE ASSOCIATIONS

This text of Iowa § 497.33 (Personal liability) 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 § 497.33 (2026).

Text

Except as otherwise provided in this chapter, a director, officer, employee, or member of
the corporation is not liable on the corporation’s debts or obligations and a director, officer,
member, or other volunteer is not personally liable in that capacity, for a claim based upon
any action taken, or any failure to take action in the discharge of the person’s duties, except
fortheamountofafinancialbenefitreceivedbythepersontowhichthepersonisnotentitled,
an intentional infliction of harm on the corporation or its members, or an intentional violation
of criminal law.

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Except as otherwise provided in this chapter, a director, officer, employee, or member of
the corporation is not liable on the corporation’s debts or obligations and a director, officer,
member, or other volunteer is not personally liable in that capacity, for a claim based upon
any action taken, or any failure to take action in the discharge of the person’s duties, except
fortheamountofafinancialbenefitreceivedbythepersontowhichthepersonisnotentitled,
an intentional infliction of harm on the corporation or its members, or an intentional violation
of criminal law.