All persons purporting to act as or on behalf of a corporation, knowing there was no incorporation under this chapter, are jointly and severally liable for all liabilities created while so acting.
89 Acts, ch 288, §21
Iowa Code § 490.204
Liability for preincorporation transactions
Known as the Iowa Business Corporation Act
The act spans §§ 490–490 (245 sections).
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.