Terms Used In Iowa Code 291.3

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • School: means an agency of the state or political subdivision of the state, individual, partnership, company, firm, society, trust, association, corporation, or any combination which meets any of the following criteria:
 If the bond of an association or corporation as surety is furnished, the reasonable cost of such bond may be paid by the school corporation.