If its articles or bylaws so provide, an association may issue transferable or nontransferable certificates for deferred patronage dividends.
Iowa Code § 499.34
Patronage dividend certificates
[C35, §8512-g34; C39, §8512.34; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §499.34]
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.