Iowa § 501.402 Vacancies

Iowa Statutes

§ 501.402 — Vacancies

Iowa § 501.402

Title XIIBUSINESS ENTITIES

Ch. 501CLOSED COOPERATIVES

This text of Iowa § 501.402 (Vacancies) 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 § 501.402 (2026).

Text

1.A director may resign at any time by delivering written notice to the board chairperson ortheboardsecretary. Aresignationiseffectivewhenthenoticeisdeliveredunlessthenotice specifies a later effective date.

2.The members may remove one or more directors with or without cause unless the articles provide that directors may be removed only for cause.

3.The articles may authorize the board to remove a director for a cause specified in the articles.

4.Unless the articles or bylaws provide otherwise, the board shall fill each vacancy until thememberselectadirectortofillthevacancyatthenextscheduledmeetingofthemembers. If the directors remaining in office constitute fewer than a quorum of the board, they may fill the vacancy by the affirmative vote of a majority of all the directors remaining

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1. A director may resign at any time by delivering written notice to the board chairperson
ortheboardsecretary. Aresignationiseffectivewhenthenoticeisdeliveredunlessthenotice
specifies a later effective date.
2. The members may remove one or more directors with or without cause unless the
articles provide that directors may be removed only for cause.
3. The articles may authorize the board to remove a director for a cause specified in the
articles.
4. Unless the articles or bylaws provide otherwise, the board shall fill each vacancy until
thememberselectadirectortofillthevacancyatthenextscheduledmeetingofthemembers.
If the directors remaining in office constitute fewer than a quorum of the board, they may fill
the vacancy by the affirmative vote of a majority of all the directors remaining in office.