If a corporation commences an inquiry into the allegations made in a demand or complaint, the court may stay any derivative proceeding for a period of time as the court deems appropriate.
Iowa Code § 504.634
Stay of proceedings
Known as the Revised Iowa Nonprofit Corporation Act
The act spans §§ 504–504 (189 sections).
2004 Acts, ch 1049, §49, 192
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.