If the corporation commences an inquiry into the allegations made in the demand or complaint, the court may stay any derivative proceeding for such period as the court deems appropriate.
Iowa Code § 490.743
Stay of proceedings
Known as the Iowa Business Corporation Act
The act spans §§ 490–490 (245 sections).
2002 Acts, ch 1154, §26, 125; 2021 Acts, ch 165, §81, 230
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.