§ 501A.709 — Action without a meeting

Iowa § 501A.709

• Jurisdiction: Iowa
• Title XII: BUSINESS ENTITIES
• Ch. 501A: COOPERATIVE ASSOCIATIONS ACT

Text

1. Method. An action required or permitted to be taken at a board meeting may be taken
by written action signed by all of the directors. If the articles or bylaws so provide, any action,
other than an action requiring member approval, may be taken by written action signed by
the number of directors that would be required to take the same action at a meeting of the
board at which all directors were present.
2. Effective time. The written action is effective when signed by the required number of
directors, unless a different effective time is provided in the written action.
3. Notice and liability. When written action is permitted to be taken by less than all
directors, all directors must be notified immediately of its text and effective date. Failure
to provide the notice does not invalidate the written action. A director who does not sign or
consent to the written action has no liability for the action or actions taken by the written
action.