Standing
Known as the Revised Iowa Nonprofit Corporation Act
The act spans §§ 504–504 (189 sections).
2004 Acts, ch 1049, §47, 192
A derivative proceeding may be brought by any of the following persons:
1. A member or members of the corporation representing five percent or more of the voting power of the corporation or by fifty members, whichever is less.
2. A director of the corporation.
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.