Iowa Code § 499.40
Articles
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2013
As of January 1, 2012
Articles of incorporation must be signed and acknowledged by each incorporator. They may deal with any fiscal or internal affair of the association or any subject hereof in any manner not inconsistent with this chapter. All articles must state in the English language:
Articles of incorporation must be signed and acknowledged by each incorporator. They may deal with any fiscal or internal affair of the association or any subject hereof in any manner not inconsistent with this chapter. All articles must state in the English language:
1. The name of the association, which must include the word “cooperative”; and the address of its principal office.
1. The name of the association, which must include the word “cooperative”; and the address of its principal office.
2. The purposes for which it is formed, and a statement that it is organized under this chapter.
2. The purposes for which it is formed, and a statement that it is organized under this chapter.
3. Its duration, which may be perpetual.
3. Its duration, which may be perpetual.
4. The name, occupation and post office address of each incorporator.
4. The name, occupation and post office address of each incorporator.
5. The following information regarding the directors:
5. The following information regarding the directors:
a. Their number.
a. Their number.
b. Whether there is a fixed number or a variable range as provided in section 499.36. If a variable range is established, the information shall include the minimum and maximum number.
b. Whether there is a fixed number or a variable range as provided in section 499.36. If a variable range is established, the information shall include the minimum and maximum number.
c. Their qualifications.
c. Their qualifications.
d. Their terms of office.
d. Their terms of office.
e. How they shall be chosen and removed from office.
e. How they shall be chosen and removed from office.
6. Who are eligible for membership, how members shall be admitted and membership lost, how earnings shall be distributed among members, how assets shall be distributed in liquidation, and, in addition, either:
6. Who are eligible for membership, how members shall be admitted and membership lost, how earnings shall be distributed among members, how assets shall be distributed in liquidation, and, in addition, either:
a. That the association shall have capital stock; the classes, par value and authorized number of shares of each class thereof; how shares shall be issued and paid for; and what rights, limitations, conditions and restrictions pertain to the stock, which shall be alike as to all stock of the same class; or
a. That the association shall have capital stock; the classes, par value and authorized number of shares of each class thereof; how shares shall be issued and paid for; and what rights, limitations, conditions and restrictions pertain to the stock, which shall be alike as to all stock of the same class; or
b. That the association shall have no capital stock, and what limitations, conditions, restrictions and rights pertain to membership; and if the rights are unequal, the rules respecting them shall be specifically stated.
b. That the association shall have no capital stock, and what limitations, conditions, restrictions and rights pertain to membership; and if the rights are unequal, the rules respecting them shall be specifically stated.
7. The date of the first regular meeting of members.
7. The date of the first regular meeting of members.
8. The name and street address of the association’s initial registered agent.
8. The name and street address of the association’s initial registered agent.
93 Acts, ch 126, §15; 97 Acts, ch 17, §6
93 Acts, ch 126, §15; 97 Acts, ch 17, §6
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.