reglab/housing_qa huggingface dataset:
IA Code § 490.523 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.523 - Reserved.

490.523 Reserved. Reserved.
IA Code § 490.524 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.524 - Reserved.

490.524 Reserved. Reserved.
IA Code § 490.525 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.525 - Reserved.

490.525 Reserved. Reserved.
IA Code § 490.526 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.526 - Reserved.

490.526 Reserved. Reserved.
IA Code § 490.527 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.527 - Reserved.

490.527 Reserved. Reserved.
IA Code § 490.528 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.528 - Reserved.

490.528 Reserved. Reserved.
IA Code § 490.529 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.529 - Reserved.

490.529 Reserved. Reserved.
IA Code § 490.530 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.530 - Reserved.

490.530 Reserved. Reserved.
IA Code § 490.531 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.531 - Reserved.

490.531 Reserved. Reserved.
IA Code § 490.532 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.532 - Reserved.

490.532 Reserved. Reserved.
IA Code § 490.533 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.533 - Reserved.

490.533 Reserved. Reserved.
IA Code § 490.534 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.534 - Reserved.

490.534 Reserved. Reserved.
IA Code § 490.535 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.535 - Reserved.

490.535 Reserved. Reserved.
IA Code § 490.536 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.536 - Reserved.

490.536 Reserved. Reserved.
IA Code § 490.537 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.537 - Reserved.

490.537 Reserved. Reserved.
IA Code § 490.538 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.538 - Reserved.

490.538 Reserved. Reserved.
IA Code § 490.539 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.539 - Reserved.

490.539 Reserved. Reserved.
IA Code § 490.540 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.540 - Reserved.

490.540 Reserved. Reserved.
IA Code § 490.541 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.541 - Reserved.

490.541 Reserved. Reserved.
IA Code § 490.542 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.542 - Reserved.

490.542 Reserved. Reserved.
IA Code § 490.543 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.543 - Reserved.

490.543 Reserved. Reserved.
IA Code § 490.544 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.544 - Reserved.

490.544 Reserved. Reserved.
IA Code § 490.545 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.545 - Reserved.

490.545 Reserved. Reserved.
IA Code § 490.546 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.546 - Reserved.

490.546 Reserved. Reserved.
IA Code § 490.547 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.547 - Reserved.

490.547 Reserved. Reserved.
IA Code § 490.548 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.548 - Reserved.

490.548 Reserved. Reserved.
IA Code § 490.549 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.549 - Reserved.

490.549 Reserved. Reserved.
IA Code § 490.550 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.550 - Reserved.

490.550 Reserved. Reserved.
IA Code § 490.551 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.551 - Reserved.

490.551 Reserved. Reserved.
IA Code § 490.552 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.552 - Reserved.

490.552 Reserved. Reserved.
IA Code § 490.553 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.553 - Reserved.

490.553 Reserved. Reserved.
IA Code § 490.554 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.554 - Reserved.

490.554 Reserved. Reserved.
IA Code § 490.555 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.555 - Reserved.

490.555 Reserved. Reserved.
IA Code § 490.556 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.556 - Reserved.

490.556 Reserved. Reserved.
IA Code § 490.557 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.557 - Reserved.

490.557 Reserved. Reserved.
IA Code § 490.558 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.558 - Reserved.

490.558 Reserved. Reserved.
IA Code § 490.559 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.559 - Reserved.

490.559 Reserved. Reserved.
IA Code § 490.560 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.560 - Reserved.

490.560 Reserved. Reserved.
IA Code § 490.561 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.561 - Reserved.

490.561 Reserved. Reserved.
IA Code § 490.562 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.562 - Reserved.

490.562 Reserved. Reserved.
IA Code § 490.563 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.563 - Reserved.

490.563 Reserved. Reserved.
IA Code § 490.564 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.564 - Reserved.

490.564 Reserved. Reserved.
IA Code § 490.565 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.565 - Reserved.

490.565 Reserved. Reserved.
IA Code § 490.566 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.566 - Reserved.

490.566 Reserved. Reserved.
IA Code § 490.567 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.567 - Reserved.

490.567 Reserved. Reserved.
IA Code § 490.568 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.568 - Reserved.

490.568 Reserved. Reserved.
IA Code § 490.569 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.569 - Reserved.

490.569 Reserved. Reserved.
IA Code § 490.570 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.570 - Reserved.

490.570 Reserved. Reserved.
IA Code § 490.571 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.571 - Reserved.

490.571 Reserved. Reserved.
IA Code § 490.572 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.572 - Reserved.

490.572 Reserved. Reserved.
IA Code § 490.573 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.573 - Reserved.

490.573 Reserved. Reserved.
IA Code § 490.574 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.574 - Reserved.

490.574 Reserved. Reserved.
IA Code § 490.575 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.575 - Reserved.

490.575 Reserved. Reserved.
IA Code § 490.576 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.576 - Reserved.

490.576 Reserved. Reserved.
IA Code § 490.577 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.577 - Reserved.

490.577 Reserved. Reserved.
IA Code § 490.578 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.578 - Reserved.

490.578 Reserved. Reserved.
IA Code § 490.579 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.579 - Reserved.

490.579 Reserved. Reserved.
IA Code § 490.580 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.580 - Reserved.

490.580 Reserved. Reserved.
IA Code § 490.581 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.581 - Reserved.

490.581 Reserved. Reserved.
IA Code § 490.582 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.582 - Reserved.

490.582 Reserved. Reserved.
IA Code § 490.583 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.583 - Reserved.

490.583 Reserved. Reserved.
IA Code § 490.584 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.584 - Reserved.

490.584 Reserved. Reserved.
IA Code § 490.585 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.585 - Reserved.

490.585 Reserved. Reserved.
IA Code § 490.586 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.586 - Reserved.

490.586 Reserved. Reserved.
IA Code § 490.587 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.587 - Reserved.

490.587 Reserved. Reserved.
IA Code § 490.588 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.588 - Reserved.

490.588 Reserved. Reserved.
IA Code § 490.589 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.589 - Reserved.

490.589 Reserved. Reserved.
IA Code § 490.590 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.590 - Reserved.

490.590 Reserved. Reserved.
IA Code § 490.591 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.591 - Reserved.

490.591 Reserved. Reserved.
IA Code § 490.592 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.592 - Reserved.

490.592 Reserved. Reserved.
IA Code § 490.593 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.593 - Reserved.

490.593 Reserved. Reserved.
IA Code § 490.594 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.594 - Reserved.

490.594 Reserved. Reserved.
IA Code § 490.595 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.595 - Reserved.

490.595 Reserved. Reserved.
IA Code § 490.596 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.596 - Reserved.

490.596 Reserved. Reserved.
IA Code § 490.597 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.597 - Reserved.

490.597 Reserved. Reserved.
IA Code § 490.598 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.598 - Reserved.

490.598 Reserved. Reserved.
IA Code § 490.599 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.599 - Reserved.

490.599 Reserved. Reserved.
IA Code § 490.600 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.600 - Reserved.

490.600 Reserved. Reserved.
IA Code § 490.601 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.601 - Authorized shares.

490.601 Authorized shares.   1. The articles of incorporation must set forth any classes of shares and series of shares within a class, and the number of shares of each class and series, that the corporation is authorized to issue. If more than one class or series of shares is authorized, the articles of incorporation must prescribe a distinguishing designation for each class or series and must describe, prior to the issuance of shares of a class or series, the terms, including the preferences, rights, and limitations of that class or series. Except to the extent varied as permitted by this section, all shares of a class or series must have terms, including preferences, rights, and limitations that are identical with those of other shares of the same class or series.   2. The articles of incorporation must authorize all of the following:   a. One or more classes or series of shares that together have unlimited voting rights.   b. One or more classes or series of shares, which may be the same class or classes as those with voting rights, that together are entitled to receive the net assets of the corporation upon dissolution.   3. The articles of incorporation may authorize one or more classes or series of shares that have any of the following qualities:   a. Have special, conditional, or limited voting rights, or no right to vote, except to the extent otherwise provided by this chapter.   b. Are redeemable or convertible as specified in the articles of incorporation in any of the following ways:   (1) At the option of the corporation, the shareholder, or another person or upon the occurrence of a specified event.   (2) For cash, indebtedness, securities, or other property.   (3) At prices and in amounts specified, or determined in accordance with a designated formula.   c. Entitle the holders to distributions calculated in any manner, including dividends that may be cumulative, noncumulative, or partially cumulative.   d. Have preference over any other class or series of shares with respect to distributions, including distributions upon the dissolution of the corporation.   4. The terms of shares may be made dependent upon facts objectively ascertainable outside the articles of incorporation in accordance with section 490.120, subsection 12.   5. The terms of shares may vary among holders of the same class or series so long as such variations are expressly set forth in the articles of incorporation.   6. The description of the preferences, rights, and limitations of classes or series of shares in subsection 3 is not exhaustive.  89 Acts, ch 288, §36; 2007 Acts, ch 140, §4  Referred to in §490.602
IA Code § 490.602 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.602 - Terms of class or series determined by board of directors.

490.602 Terms of class or series determined by board of directors.   1. If the articles of incorporation so provide, the board of directors is authorized, without shareholder approval, to do any of the following:   a. Classify any unissued shares into one or more series within a class.   b. Reclassify any unissued shares of any class into one or more classes or into one or more series within one or more classes.   c. Reclassify any unissued shares of any series of any class into one or more classes or into one or more series within a class.   2. If the board of directors acts pursuant to subsection 1, it must determine the terms, including the preferences, rights, and limitations, to the same extent permitted under section 490.601, of any of the following:   a. Any class of shares before the issuance of any shares of that class.   b. Any series within a class before the issuance of any shares of that series.   3. Before issuing any shares of a class or series created under this section, the corporation must deliver to the secretary of state for filing articles of amendment setting forth the terms determined under subsection 1.  89 Acts, ch 288, §37; 2007 Acts, ch 140, §5  Referred to in §490.1005
IA Code § 490.603 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.603 - Issued and outstanding shares.

490.603 Issued and outstanding shares.   1. A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted, or canceled.   2. The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations of subsection 3 and to section 490.640.   3. At all times that shares of the corporation are outstanding, one or more shares that together have unlimited voting rights and one or more shares that together are entitled to receive the net assets of the corporation upon dissolution must be outstanding.  89 Acts, ch 288, §38
IA Code § 490.604 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.604 - Fractional shares.

490.604 Fractional shares.   1. A corporation may:   a. Issue fractions of a share or pay in money the value of fractions of a share.   b. Arrange for disposition of fractional shares by the shareholders.   c. Issue scrip in registered or bearer form entitling the holder to receive a full share upon surrendering enough scrip to equal a full share.   2. Each certificate representing scrip must be conspicuously labeled “scrip” and must contain the information required by section 490.625, subsection 2.   3. The holder of a fractional share is entitled to exercise the rights of a shareholder, including the right to vote, to receive dividends, and to participate in the assets of the corporation upon liquidation. The holder of scrip is not entitled to any of these rights unless the scrip provides for them.   4. The board of directors may authorize the issuance of scrip subject to any condition considered desirable, including:   a. That the scrip will become void if not exchanged for full shares before a specified date.   b. That the shares for which the scrip is exchangeable may be sold and the proceeds paid to the scrip holders.  89 Acts, ch 288, §39
IA Code § 490.620 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.620 - Subscription for shares before incorporation.

490.620 Subscription for shares before incorporation.   1. A subscription for shares entered into before incorporation is irrevocable for six months unless the subscription agreement provides a longer or shorter period or all the subscribers agree to revocation.   2. The board of directors may determine the payment terms of subscriptions for shares that were entered into before incorporation unless the subscription agreement specifies them. A call for payment by the board of directors must be uniform so far as practicable as to all shares of the same class or series, unless the subscription agreement specifies otherwise.   3. Shares issued pursuant to subscriptions entered into before incorporation are fully paid and nonassessable when the corporation receives the consideration specified in the subscription agreement.   4. If a subscriber defaults in payment of money or property under a subscription agreement entered into before incorporation, the corporation may collect the amount owed as any other debt. Alternatively, unless the subscription agreement provides otherwise, the corporation may rescind the agreement and may sell the shares if the debt remains unpaid more than twenty days after the corporation sends a written demand for payment to the subscriber.   5. A subscription agreement entered into after incorporation is a contract between the subscriber and the corporation subject to section 490.621.  89 Acts, ch 288, §40; 2013 Acts, ch 31, §7, 82  Referred to in §490.622
IA Code § 490.622 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.622 - Liability of shareholders.

490.622 Liability of shareholders.   1. A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued under section 490.621, or specified in the subscription agreement authorized under section 490.620.   2. Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debts of the corporation.  89 Acts, ch 288, §42
IA Code § 490.623 (2021)
2021 Iowa Code|Title XII - BUSINESS ENTITIES|Chapter 490 - BUSINESS CORPORATIONS|Section 490.623 - Share dividends.

490.623 Share dividends.   1. Unless the articles of incorporation provide otherwise, shares may be issued pro rata and without consideration to the corporation’s shareholders or to the shareholders of one or more classes or series. An issuance of shares under this subsection is a share dividend.   2. Shares of one class or series shall not be issued as a share dividend in respect of shares of another class or series unless one or more of the following conditions are met:   a. The articles of incorporation so authorize.   b. A majority of the votes entitled to be cast by the class or series to be issued approve the issue.   c. There are no outstanding shares of the class or series to be issued.   3. If the board of directors does not fix the record date for determining shareholders entitled to a share dividend, it is the date the board of directors authorizes the share dividend.  89 Acts, ch 288, §43