Terms Used In Iowa Code 496B.4

• Board of directors: means members of the board of directors of a development corporation constituted under section 496B. See Iowa Code 496B.2
• 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.
• state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1