Corporations whose charters expire by limitation or the voluntary act of the stockholders may nevertheless continue to act for the purpose of winding up their affairs.
Iowa Code § 491.56
Expiration and closing of business
Applied in 2 court decisions — leading case Karnes v. F.C. Morris & Sons, Inc. (In re Morris) (1992)
Most recently applied in Karnes v. F.C. Morris & Sons, Inc. (In re Morris) (November 1992)
[C51, §694; R60, §1171; C73, §1080; C97, §1629; C24, 27, 31, 35, 39, §8392; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §491.56]
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.