Iowa § 504.1302 Authorized distributions

Iowa Statutes

§ 504.1302 — Authorized distributions

Iowa § 504.1302

Title XIIBUSINESS ENTITIES

Ch. 504REVISED IOWA NONPROFIT CORPORATION ACT

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Bluebook

Iowa Code § 504.1302 (2026).

Text

1.A mutual benefit corporation may purchase its memberships if, after the purchase is completed, both of the following apply:

a.The corporation will be able to pay its debts as they become due in the usual course of its activities.

b.The corporation’s total assets will at least equal the sum of its total liabilities.

2.Corporations may make distributions upon dissolution in conformity with subchapter XIV.

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1. A mutual benefit corporation may purchase its memberships if, after the purchase is
completed, both of the following apply:
a. The corporation will be able to pay its debts as they become due in the usual course of
its activities.
b. The corporation’s total assets will at least equal the sum of its total liabilities.
2. Corporations may make distributions upon dissolution in conformity with subchapter
XIV.