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.
Iowa Code § 504.204
Liability for preincorporation transactions
Known as the Revised Iowa Nonprofit Corporation Act
The act spans §§ 504–504 (189 sections).
2004 Acts, ch 1049, §20, 192
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.