Iowa § 499.69 Foreign and domestic mergers or consolidations

Iowa Statutes

§ 499.69 — Foreign and domestic mergers or consolidations

Iowa § 499.69

Title XIIBUSINESS ENTITIES

Ch. 499COOPERATIVE ASSOCIATIONS

This text of Iowa § 499.69 (Foreign and domestic mergers or consolidations) 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 § 499.69 (2026).

Text

1.One or more foreign cooperative associations and one or more domestic cooperative associations may be merged or consolidated in the following manner, if such merger or consolidation is permitted by the laws of the state under which each foreign cooperative association is organized:

a.Each domestic cooperative association shall comply with the provisions of this subchapter with respect to the merger or consolidation of domestic cooperative associations, and each foreign cooperative association shall comply with the applicable provisions of the laws of the state under which it is organized.

b.If the surviving or new association is to be governed by the laws of any state other than this state, it shall comply with the provisions of the laws of this state with respect to the qualification

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1. One or more foreign cooperative associations and one or more domestic cooperative
associations may be merged or consolidated in the following manner, if such merger or
consolidation is permitted by the laws of the state under which each foreign cooperative
association is organized:
a. Each domestic cooperative association shall comply with the provisions of this
subchapter with respect to the merger or consolidation of domestic cooperative associations,
and each foreign cooperative association shall comply with the applicable provisions of the
laws of the state under which it is organized.
b. If the surviving or new association is to be governed by the laws of any state other
than this state, it shall comply with the provisions of the laws of this state with respect to the
qualifications of foreign cooperative associations if it is to transact business in this state, and
in every case it shall file with the secretary of state of this state:
(1) An agreement that it may be served with process in this state in any proceeding for
the enforcement of any obligation of any domestic cooperative association which is a party
to the merger or consolidation, and in any proceeding for the enforcement of the rights of a
dissenting shareholder of any such domestic cooperative association, against the surviving
or new association.
(2) An irrevocable appointment of the secretary of state of this state as its agent to accept
service of process in any proceeding.
(3) An agreement that it will promptly pay to the dissenting shareholders of any domestic
cooperative association the amount to which they are entitled under the provisions of this
subchapter with respect to the rights of dissenters.
2. The effect of such merger or consolidation shall be the same as the effect of the merger
or consolidation of domestic cooperative associations, if the surviving or new association is
to be governed by the laws of this state. If the surviving or new association is to be governed
by the laws of any other state, the effect of merger or consolidation shall be the same as in
the case of the merger or consolidation of domestic cooperative associations, except as the
laws of the other state otherwise provide.