Except as provided in its articles or bylaws, a corporation may admit members for no consideration or for such consideration as is determined by the board.
Iowa Code § 504.602
Consideration
Known as the Revised Iowa Nonprofit Corporation Act
The act spans §§ 504–504 (189 sections).
2004 Acts, ch 1049, §36, 192
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.